Mexico's Options in Trade Negotiations

Mexico's first priority is the economic and trade negotiations with the US, which accounts for about 70% of Mexico's total trade. Negotiation of a free trade arrangement with the US would involve both the bilateral level between the US and Mexico and, if Mexico joins, the US-Canada Free Trade Agreement. The 2nd priority in Mexico's international economic negotiations should be given to the Uruguay Round of talks on the General Agreement on Tariffs and Trade. The 3rd priority would rest with Canada. It should be noted that, while international economic negotiations are important in assisting the expansion of export goods and services by improving external market access conditions, they are only a complement to an appropriate exchange rate policy and commercial policy.