Mexican companies welcome TPP, eye new Asian markets

Global Business

The Trans-Pacific Partnership, which seeks to cut trade barriers and set common standards among a dozen nations reaching from Japan to Chile.

It has become snared since July over a small set of issues, including trade in autos and auto parts. The auto issue is crucial for Mexico, which has experienced a boom in auto-related investment because of its proximity to the United States.

Read more about the Trans Pacific Partnership

Relatively low labor costs and participation in the North America Free Trade Agreement. The United States, Mexico, Canada and Japan finally agreed on rules governing trade in vehicles, which dictate how many parts of a car are to be manufactured within the TPP to qualify for duty-free status. Once the TPP is approved by all 12 Pacific Rim nations, proponents say Mexico will benefit from the massive trade pact.
It could potentially open up access to Mexican products to 800 million consumers. CCTV’s Franc Contreras reports.

Mexican companies welcome TPP, eye new Asian markets

Mexican companies welcome TPP, eye new Asian markets

The Trans-Pacific Partnership, which seeks to cut trade barriers and set common standards among a dozen nations reaching from Japan to Chile. It has become snared since July over a small set of issues, including trade in autos and auto parts. The auto issue is crucial for Mexico, which has experienced a boom in auto-related investment because of its proximity to the United States. Relatively low labor costs and participation in the North America Free Trade Agreement. The United States, Mexico, Canada and Japan finally agreed on rules governing trade in vehicles, which dictate how many parts of a car are to be manufactured within the TPP to qualify for duty-free status. Once the TPP is approved by all 12 Pacific Rim nations, proponents say Mexico will benefit from the massive trade pact. It could potentially open up access to Mexican products to 800 million consumers. CCTV's Franc Contreras reports.