Agreement for vehicle exports to Argentina was announced

The Mexican Ministry of Economy (SE) presented an agreement to establish the procedure and criteria to assign quotas to export to Argentina new light vehicles, with the purpose of encouraging and promoting competition in the automotive sector. The SE states that, this undertaking is set up according to the Act of Foreign Trade, and has the full support of the Foreign Trade Commission. The quotas will be assigned directly and can be requested by any juridical person residing in Mexico that has an active registration as a manufacturer of new light vehicles and operates in the country. The agreement is effective as of April 20th and it expires March 18th, 2019.