|
Mexico reducing its reliance on US |
\Mexico believes it can conclude
a new free-trade agreement with the European Union before the end of
February, a Mexican official close to the talks said on Wednesday.
The
EU and Mexico intend to update a trade deal agreed 21 years ago that
largely covers industrial goods. They want to add farm products, more
services, investment and government procurement, and include provisions
on labor standards and environmental protection.
Mexican negotiators are in Brussels this week, with the two sides due to reconvene next week in Mexico.
The
Mexican official said EU Trade Commissioner Cecilia Malmstrom could
come in the week starting Feb. 19 to help push talks to a close and to
allow an initial deal to be announced, though only if a deal was within
reach.
For Mexico, a deal with the EU would be part of a strategy
to reduce its reliance on the United States, the destination of nearly
80 percent of its exports. That has become more urgent, given U.S.
President Donald Trump’s threat to scrap the North American Free Trade
Agreement.