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On July 7-8, Brasilia hosted the First Negotiation Meeting for the Brazil-Mexico Trade Expansion Agreement, in accordance with the joint presidential statement made on the occasion of the visit of President Dilma Rousseff to Mexico on May 25. Representatives from the two countries agreed on the parameters to negotiate a trade expansion agreement.

The Agreement of Economic Complementation No. 53 (Brazil-Mexico) grants tariff preferences to 12% of the tariff lines. The two largest economies in Latin America agreed that there are innumerable opportunities to expand trade, which will be explored in the negotiations currently underway. In 2014, trade between Brazil and Mexico totaled US $ 9 billion, of which US $ 4.1 billion was in the automotive sector alone.

The Second Negotiating Meeting for the Brazil-Mexico Trade Expansion Agreement will take place in Mexico in October.

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