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Latino Daily News

Sunday March 30, 2014

Mexico Agrees to Boost Trade, Investment with Argentina

Mexico Agrees to Boost Trade, Investment with Argentina

Photo: Mexico-Argentina relations

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Mexican Economy Secretary Ildefonso Guajardo and Argentine Industry Ministry Debora Giorgi have agreed to promote bilateral trade, especially in the automotive industry, officials said.

The agreement was reached during the visit that an Argentine delegation made to Mexico City last Thursday and Friday, the Economy Secretariat said in a statement.

Guajardo and Giorgi focused on examining ways to boost bilateral trade and investment, the secretariat said.

“Both officials said they were extremely willing to explore all options for expanding trade in both directions,” the secretariat said.

The officials discussed the automotive industry, in which trade is regulated by Economic Complementation Agreement, or ACE, 55, under the Latin American Integration Association, or ALADI.

Guajardo and Giorgi made a commitment to “improve efforts to move the integration process forward in both industries, especially in the auto parts sector, promoting mutual investment in said sector,” the secretariat said.

Mexico and Argentina reached a trade agreement covering the automotive industry in 2012 that allowed them to resolve differences over quotas.

Automotive industry representatives were present at the meeting between Guajardo and Giorgi.

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