Mexico joined the TPP, a free trade agreement signed by the United States, Mexico, Canada and nine other Asia-Pacific countries on February 4, 2016, after eight years of negotiations. In January 2017, the United States informed the other TPP signatories that it had no intention of ratifying the agreement. Other countries can advance an agreement and issue a statement reaffirming their commitment to liberalizing international markets, promoting a rules-based trading system and continuing talks.40 Mexico has repeatedly expressed interest in a regional trade agreement with other TPP members, or even binational free trade agreements with countries with which it does not have a free trade agreement41 TPP.41 TPP.41 TPP , or a similar agreement, if adopted by Mexico and other countries, would reduce and eliminate tariff and non-tariff barriers to goods, services and agriculture. It could establish trade rules and disciplines that will expand its obligations within the World Trade Organization (WTO) and address new issues. If it were similar to the TPP, it would achieve a high and comprehensive regional free trade agreement. Such a free trade agreement could improve Mexico`s ties through its free trade agreements with other TPP signatories – Canada, Chile, Japan and Peru – and strengthen trade relations with other TPP countries, including Australia, Brunei, Malaysia, New Zealand, Singapore and Vietnam. In the mid-1980s, the 1982 debt crisis brought Mexico`s economy to the brink of collapse, during which the Mexican government was unable to meet its external debt obligations. Much of the government`s efforts to address these economic challenges have been put in place on privatization of public industries and on trade liberalization. Mexico had few opportunities to open up its economy through trade liberalization. In the late 1980s and early 1990s, Mexico implemented a series of economic restructuring measures, which included unilateral trade liberalization, replacing the import substitution policy with others, aimed at attracting foreign investment, reducing trade barriers and making the country competitive in non-exporting oil. In 1986, it joined the General Agreement on Tariffs and Trade (GATT) in order to initiate new trade liberalization measures that resulted in closer relations with the United States. Transshipments between and through NAFTA countries to Israel are eligible for the free trade area, in accordance with certificates of origin based on origin between the United States, Israel, Canada-Israel or Mexico. This trading bloc was created in 2011 by Mexico, Chile, Colombia and Peru and has 55 observer states.
It has a total population of 225 million and accounts for 38% of the region`s foreign direct investment. Each agreement contains unique conditions for bringing specific benefits to the countries concerned. Below is a list of Mexico`s 14 free trade agreements, which detail the countries involved and what they can expect in trade under these provisions. The agreement contains provisions relating to trade in goods and services as well as investments, dispute resolution procedures, rules of origin, anti-dumping and countervailing duties, as well as the temporary entry of businessmen, among others. Launched in June 2008, the free trade agreement between Mexico and Central American countries established existing free trade agreements between Mexico and Central American countries to create a single regional agreement with Mexico. After its entry into force, the free trade agreement replaced the following three old free trade agreements: Mexico is a signatory to the Latin American Integration Association (ALADI), founded by the Montevideo Treaty in August 1980 and entered into force on 18 March 1981. ALADI replaced the Latin American Free Trade Association, founded in 1960, with the aim of developing a common market in Latin America.