While Europe continues to dominate the agenda, Mexico has achieved a couple of milestones today in th einterbational arena.
The G20 conference taking place in Los Cabos, Mexico today and tomorrow is the first time the summit has been held in Latin America, a region currently enjoying better growth than most developed economies.
The conference allows Latin America to showcase its economic strength, epitomized by the announcement today by US President Barack Obama and Mexican President Felipe Calderón of Mexico’s entry as a negotiating partner in the Trans-Pacific Partnership (TPP), a free-trade agreement linking the Americas to the Asia-Pacific Region.
Mexico becomes the tenth country to join the group which includes the United States, Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore, and Vietnam. Japan and Canada have also expressed interest in joining the TPP talks, but no agreement has yet been reached with them.
The US Retail Industry Leaders Association (RILA) welcomed Mexico’s acceptance into the TPP negotiations. “RILA and our members welcome Mexico as a new negotiating partner in the Trans-Pacific Partnership,” said Stephanie Lester, vice president of international trade.
“The TPP is intended to be a platform to expand trade with willing countries and enhance global partnerships. We look forward to Mexico joining the dialogue and discussing constructive ways to modernize the NAFTA model to more effectively promote trade and investment in TPP, particularly in apparel and footwear. We also encourage TPP negotiators to continue their good work to finalize a comprehensive, high-standard TPP agreement this year.”
