Monday, June 5, 2023

Great Britain says it will have an FTA with Mexico before 2024

After coming out of the worst moments of the covid pandemic, relations between Mexico and Great Britain are envisioned for a major upswing, which has led to the start of negotiations on a Free Trade Agreement (FTA), to be signed between hopefully. End of the current year and 2024.

In an interview with Milenio, the British government’s Secretary of Business and Commerce, Cammy Badenoch, explained that if FTA talks move quickly, an agreement could be reached this year, but if there is anything that slows it down, It will be closed. next year.

“We are in the early stages,” the official said and clarified that some factors that could delay the agreement are elections that are due next year in both countries.

“What we want is to speed up the talks, to establish good relations with the Mexican government,” Badenoch said.

The official visited Mexico last week as part of a working tour, during which he held meetings with Raquel Buenrostro, head of the economy ministry, to evaluate progress on the pact.

Badenoch confirmed that one of the objectives of achieving the agreement is population, “It matters to us, to make sure that people have more money, a better lifestyle and that they are included in this new era.” this is, not only in Mexico but also in the United Kingdom”.

He indicated that some of the areas where huge growth potential is seen when the FTA is signed are in the development of green technologies as well as finance, banking, and digital, inclusion.

“There will be many opportunities in the future. We have partners and who can tribute to the supply and value chain. We want to contribute there,” he said.

He added that many aspects can work out within the FTA, as Great Britain has areas where it is an expert and can also support with infrastructure. “Mexico also has its areas over time.”

Regarding the state of trade between the two countries, the European official said that activity has already recovered in a large part of the sectors and changes have arisen in others, such as seeking new partner countries outside China.

Badenoch said there is still much to do in the post-pandemic era to ensure there is a resilient economy, where value chains vary widely, “that is something we must understand.”

The world has changed a lot after the pandemic, we can leapfrog to find more innovative technologies and be able to rely on investment activity in new ways of doing things, he stressed.

World Nation News Desk
World Nation News Desk
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