Mexico Free Trade Agreement Countries

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Mexico Free Trade Agreement Countries: A Comprehensive Guide

The North American Free Trade Agreement (NAFTA) was replaced by the United States-Mexico-Canada Agreement (USMCA) on July 1st, 2020. The USMCA is designed to modernize the rules governing trade between the three countries and create new opportunities for American workers, farmers, and entrepreneurs.

Mexico is a vital partner in the USMCA, as it is one of the United States` largest trading partners. Mexico`s economy is closely linked to the United States` economy, and the two countries have a long history of economic cooperation that dates back to the 19th century.

Mexico maintains free trade agreements with over 50 countries worldwide. These agreements have helped to make Mexico an attractive destination for foreign investment and have helped to increase the country`s exports.

Here are some of the most important Mexico free trade agreement countries:

1. United States

The United States is Mexico`s most important trading partner, accounting for around 80% of Mexico`s total exports. The USMCA replaced NAFTA, which had been in place since 1994. The new agreement seeks to modernize trade relations between the two countries and create new opportunities for American workers, farmers, and entrepreneurs.

2. Canada

Canada is Mexico`s second-largest trading partner, accounting for around 3% of Mexico`s total exports. The USMCA includes provisions related to labor, intellectual property, and the environment, which are intended to create a level playing field for businesses operating in all three countries.

3. European Union

Mexico has a free trade agreement with the European Union (EU), which was signed in 2000. The agreement has helped to increase exports to the EU and has made it easier for European companies to do business in Mexico. The EU is Mexico`s second-largest trading partner after the United States.

4. Japan

Mexico has a free trade agreement with Japan, which was signed in 2004. The agreement has helped to increase exports to Japan and has made it easier for Japanese companies to do business in Mexico. Japan is Mexico`s fourth-largest trading partner.

5. Israel

Mexico has a free trade agreement with Israel, which was signed in 2000. The agreement has helped to increase exports to Israel and has made it easier for Israeli companies to do business in Mexico. Israel is Mexico`s 27th-largest trading partner.

6. Chile

Mexico has a free trade agreement with Chile, which was signed in 1999. The agreement has helped to increase exports to Chile and has made it easier for Chilean companies to do business in Mexico. Chile is Mexico`s 16th-largest trading partner.

7. Peru

Mexico has a free trade agreement with Peru, which was signed in 2011. The agreement has helped to increase exports to Peru and has made it easier for Peruvian companies to do business in Mexico. Peru is Mexico`s 18th-largest trading partner.

Conclusion

Mexico`s free trade agreements have helped to increase exports and foreign investment in the country and have made it easier for businesses to do business in Mexico. The USMCA is a vital agreement that seeks to modernize trade relations between the United States, Mexico, and Canada. As Mexico continues to strengthen its trade relationships with countries around the world, it will remain a vital partner in the global economy.

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