Mexico has multiple Tratado de Libre Comercio (TLCs) also known as international free trade agreements (FTAs) which are not fully utilized by companies, usually due to lack of access to current and accurate information. Mexican companies that utilize FTAs are gaining benefits that could help put them at a competitive advantage. Below you can find a few interesting facts and resources about Mexico and the FTAs in which it participates.
Did you know that…?
- México has 12 FTAs with 44 countries
- During 2011, the total commerce between Mexico and the countries with an FTA was US$569,858.0 million while the total of commerce with countries without FTA was US$96,180.0 million dollars
- NAFTA is the most commonly used free trade agreement in Mexico, with commerce totaling US$469,401,000
- Mexico imports and exports more goods with Germany than any other country within the EU
- The first free trade agreement signed by Mexico was NAFTA, signed on December 17, 1992
- 30.3% of Mexico’s exports to the European Union during2012 were crude petroleum oils, while imports were mostly petrol at 7.2%
- In 2010, the Economic Complementation Agreement (ACE-66) between Mexico and Bolivia came into force, which replaced the FTA signed by the two countries in 1994
- In 2010, Mexican exports to the European Free Trade Association (EFTA) reached a new record of US$655 million dollars, representing an increase of 37% over the previous year and 256% over the 10 years of validity of the Mexico-EFTA FTA
- During 2011, the main product exported from Mexico to Japan was silver and the main product imported from Japan was auto parts
- Mexico has 9 Economic Complementation agreements and partial scope agreements, within the framework of the Latin American Integration Association
- The FTA between Mexico and Central America was signed on November 22, 2011 in San Salvador, El Salvador
- Since its entry into force in 1994, NAFTA has favored the trade growth between Mexico and United States by 400%
- 50% of the United States imports come from Mexico
Please note that most of the links above are in Spanish with limited translation available.