Mexico formally joined on October 8th, as a member, the negotiations of the Trans-Pacific Partnership Agreement (TPP), given the compliance of the internal procedures in the member countries of this initiative.
After the meeting between the President of the USA, Barack Obama, and the Mexican President, Felipe Calderón, within the framework of the G-20 summit held in Los Cabos on June 18th, the countries taking part in the TPP extended the invitation to Mexico to join the Agreement.
From now on Mexico is the tenth member of the TPP. This allows Mexico to fully participate and have a bearing on the negotiations of all the matters that are a part of this initiative, as well as to reflect Mexico’s interests in the discussions and the subsequent elaboration of the instrument that consolidates the Agreement.
The TPP is, currently, the most relevant and ambitious multilateral commercial negotiation at an international level due to the products coverage and the disciplines that it includes, as well as the countries that participate in it, and that in year 2011 represented de 18% of the imports, the 15% of the exports and almost a third (26%) of the GDP at a world level.
For Mexico, the strategic importance of the TPP lays in that the Agreement represents a platform for boosting the commercial integration of Mexico in the Asian-Pacific region. This, on the one hand, offers Mexico the opportunity to carry on diversifying its exports, and on the other hand,to make the most of its leading role in the global supply chains for the USA as well as for the Asian-Pacific region markets (currently, the most dynamic ones in financial terms).
With respect to the state of the negotiations, the 15th round of the Agreement’s discussions in a wide format will take place on December 3rd-12th in Auckland (New Zealand).Regardless of it, Mexico has negotiated being the venue of a previous “intersessional” meeting that is planned for November 12th-15th in our country, with the participation of all the TPP member countries (Australia, Brunei, Chile, USA, Malaysia, New Zealand, Peru, Singapore and Vietnam).
Monday October 8, 2012/ Secretaria de Economía/ Mexico.