Commercial agreement between Brazil and Mexico, ready for 2018

Mexico and Brazil might finalize the update to the 53 Agreement of Economic Complementarity (AC 53) in early 2018, as part of the strategy of both economies to tighten commercial bonds. Abrao Miguel Arabe Neto, Foreign Commerce Secretary of the Ministry of Industry, Foreign Commerce and Service in Brazil, recognized that the commercial relation between these two countries is “very timid” and needs to be strengthened. Arabe Nieto referred that there is a relatively partial agreement of 800 products from each party, but there is interest to increase its outreach to a greater number of products, services, purchases, non-customs barriers.