Economiesuisse urges modernization of trade agreement with Mexico

06 November 2023 14:16

SwissCham Mexico

Zurich - Economiesuisse considers it necessary to modernize the free trade agreement between the EFTA states and Mexico. The business association says the revision should be concluded as soon as possible. As part of mutual efforts, an exchange between representatives from Switzerland and Mexico took place at the end of October.

Mexico is Switzerland's second most important trading partner in Latin America, according to a statement from economiesuisse. The economies of the two countries are connected via a free trade agreement between Mexico and the EFTA states of Switzerland, Norway, Iceland and Liechtenstein. For several years, the partners have been discussing a modernization of the agreement, which was concluded over 20 years ago.

The modernization of the free trade agreement is a “top priority” for the Swiss economy, writes economiesuisse. The revision should therefore be completed “as soon as possible and to the benefit of both parties”. As part of the mutual efforts, an exchange between business and government representatives from Switzerland and Mexico took place on 31 October. The business association explains that the Swiss business representatives raised specific concerns, including technical regulations and patent rights. Economiesuisse believes that the Swiss-Mexican Consultative Group is on the right track.

In the statement, the business association addresses the efforts of the authorities in Mexico to improve regulations for foreign investors. A digital portal that simplifies processes and access to information was recently created for their benefit, for example. The country also offers training programs for companies. “Such cooperation should be maintained and intensified,” advises economiesuisse. ce/hs

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