THE BUSINESS OF INTERNATIONAL TRADE
A UK-Mexico Continuity Agreement was signed yesterday, December 15, by UK Secretary of State for International Trade Liz Truss and the Minister of Economy of Mexico, Graciela Márquez Colín. The agreement means the current trading relationship between the UK and Mexico will continue on January 1, 2021, after the UK's transition period with the European Union ends.
The Continuity Agreement is the first step towards strengthening UK-Mexico relations, with the two countries confirming that they will engage in negotiations on a "new ambitious and modern UK-Mexico Trade Agreement at the earliest opportunity in 2021 and strive to conclude it within three years."
In its statement on the Agreement, the UK also signalled its continued intention to "formally apply in early 2021 to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)", with Mexico supporting the process.
More details on the Continuity Agreement and future UK-Mexico ties can be found at www.gov.uk/government/news/joint-statement-by-the-uk-and-mexico
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