Mexico looking to expedite free trade with Brazil

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The Sub-Secretary of Foreign Commerce, Juan Carlos Baker Pineda, affirmed that Mexico is looking to arrange a modification to the Complementary Economic Agreement 55 (ACE 55) with Brazil, to expedite the enforcement of the Brazil free trade, in the automotive and auto-parts market, before it expires in 2019. There are ongoing negotiation processes with Brazil and Argentina. The ACE 53 (general products) is being updated, as well as the ACE 6 with Argentina. Baker Pineda considers Mexico could have a great opportunity in the machines and equipment sectors.