NAFTA talks to resume, according to Mexican negotiators
Mexican Economy Secretary Ildefonso Guajardo declared that the negotiating teams for the North American Free Trade Agreement (NAFTA) are ready to kick off talks again after they stalled last month. The full story is here.
Chief negotiators from the 11 signatories to the Trans-Pacific Partnership agreed this week to start accession talks with potential newcomers in 2019, when the free trade pact takes effect. Thailand, Indonesia, Columbia, South Korea and Taiwan are reportedly seen as willing to join the revised accord, which was signed in March and is now formally known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. The story is here.
European member states have given the go-ahead for a free trade deal with Japan, the world’s third-largest economy, news outlets report. Among other things, the new accord will create the world’s largest open economic area, removing EU tariffs of 10 percent tariffs on Japanese cars and the 3 percent rate typically applied to car parts. Meanwhile, Japan has reportedly committed to remove duties of some 30 percent on EU cheese and 15 percent on wines as well as allowing it to increase its beef and pork exports and gain access to large public tenders in Japan.