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Journal > Free Trade Agreement Mexico Chile

Free Trade Agreement Mexico Chile

April 9th, 2021

The alliance also integrates the four national stock markets, lifts visa restrictions between alliances and opens joint international trade missions. The Alliance prioritizes private sector cooperation as it promotes free trade, which helps to strengthen competitiveness and development. The agreement also facilitates the activity of EU companies in Mexico by simplifying customs procedures to streamline industrial trade and establishing a clause on the free flow of data and investment protection. Mexico and Panama concluded a free trade agreement in July 2015 to strengthen bilateral relations, diversify exports, promote mutual trade and ultimately support economic growth and prosperity for both countries. The agreement also prepared the terms of Panama`s accession to the Pacific Alliance – which includes Mexico, Colombia, Chile and Peru – since all members must have free trade agreements. In 2018, Mexico and the European Union reached an “agreement in principle” to update their trade agreement, which replaces the 2000 EU-Mexico economic partnership. The new agreement allows EU companies to sell more services to Mexico and commits to protecting workers` rights and the environment. The agreement contains provisions relating to trade in goods and services as well as investments, dispute resolution procedures, rules of origin, anti-dumping and countervailing duties, as well as the temporary entry of businessmen, among others. The provisions of the agreement cover the following themes: with more free trade agreements (FTAs) than any other country, Mexico serves as a strong export platform for its American neighbour and the world. Mexico is a trading partner with more than 50 countries whose agreements arrive in Europe, South America and Africa. These agreements reduce trade barriers, including tariffs and import quotas, in order to develop close cooperation in trade in goods and services. The Chile-Mexico Free Trade Agreement was signed on 17 April 1998 and came into force on 1 August 1999.

Article 17-01 of the Free Trade Agreement established a free trade commission to oversee the implementation of the agreement.

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