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Mexico will host the Third Meeting of the TIPAT Commission

Mexico will chair this Wednesday the third virtual meeting of the Commission of the Comprehensive and Progressive Treaty of Trans-Pacific Association (TIPAT, or CPTPP for its acronym in English).

The meeting will be held in virtual format and will be attended by the Ministers of Economy and officials from the eleven member countries of the Treaty (Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam).

This meeting will be chaired by the Secretary of Economy, Graciela Márquez, on behalf of Mexico.

On December 30, 2018, TIPAT entered into force among the first six countries to ratify the agreement, Canada, Australia, Japan, Mexico, New Zealand and Singapore. On January 14, 2019, the validity for Vietnam began.

This trade opening is transcendent considering that Mexico granted an immediate liberalization in 77% of its product imports, while gaining access from that moment to 90% of the goods markets of its 10 partner countries.

Mexico seeks, through this free trade agreement, to promote sectors and products such as automotive, aerospace, medical devices, electrical equipment, cosmetics, tequila, mezcal, beer, avocado, beef, pork, and orange juice.

On the contrary, it grants greater openness to sensitive goods such as dairy products (through quotas for cheese, butter and powdered milk), rice (total liberalization in 10 years) and tuna, sardines and clothing (total liberalization for the three products). in 16 years).

TIPAT

As part of the preparations for the meeting, 15 treaty committees met to discuss aspects of its implementation, such as: trade in goods; sanitary and phytosanitary measures; agricultural goods; technical barriers to trade; state-owned companies; small and medium businesses; development, cooperation and capacity development; competitiveness and facilitation for business; regulatory improvement; rules of origin; professional services; financial services; textile and clothing, as well as the environment.

The main function of the Commission is to ensure the correct implementation of the Treaty, including the supervision of the different committees.

In this meeting, the discussion of the Ministers will include the strategies to adopt to achieve a rapid economic recovery, as well as the exchange of experiences in dealing with the economic effects of the pandemic.

TIPAT is aligned to the diversification, inclusion and innovation strategy developed by the Ministry of Economy, by promoting greater integration with the Asia-Pacific region, one of the most dynamic in the world.

Likewise, TIPAT expands the preferential access of Mexican companies to the countries of this region, which will allow us to consolidate our position in regional and global value chains, while increasing opportunities for the export of goods and services, attracting investment and development of productive activities for the well-being of all Mexicans.

 

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