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Mexico, EFTA Begin Talks To Expand Free Trade Deal

by Mike Godfrey, Tax-News.com, Washington

18 May 2016


Delegations from the European Free Trade Association (EFTA) states and Mexico met for a first round of negotiations on a comprehensive review of their existing free trade agreement (FTA) on May 10-13.

EFTA is made up of Switzerland, Iceland, Norway, and Liechtenstein. Currently, under the existing FTA, merchandise trade between the two equaled USD3.6bn in 2015. EFTA's top exports to Mexico included pharmaceutical products, machinery and mechanical appliances, clocks and watches, and organic chemicals. EFTA's imports from Mexico mainly consisted of precious metals, pharmaceutical products, and mineral fuels and oil.

A second round of negotiations is expected to be held in early autumn 2016.

TAGS: tax | free trade agreement (FTA) | Iceland | export duty | interest | tariffs | Liechtenstein | Mexico | Norway | Switzerland | import duty | trade | Europe | Economy

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