Signing of the “Comprehensive and Progressive Agreement for Trans-Pacific Partnership”

March, 2018

March 8th, 2018.

Dear clients and friends,

Today, March 8th, 2018, the “Comprehensive and Progressive Agreement for Trans-Pacific partnership”, better known as TPP-11 or CPTPP, was signed in Chile, with the participation of Australia, Brunei, Canada, Chile, Malaysia, Japan, New Zealand, Peru, Singapore, Vietnam and Mexico. The agreement is signed just as the government of the United States is announcing that it will impose tariffs on imports of steel and aluminum.

The now called TPP-11 suffered a number of changes after the exit of the United States, finally concluding with its signature today. The TPP-11 will provide Mexico with commercial access to countries of Asia and Oceania with which it did not have a trade agreement, in addition to reinforcing relations with those countries such as Canada and Japan with which it already had an agreement.

The Agreement will enter into force soon, once each of the countries concludes its internal procedures.

For more information, please contact our experts:

Luis Miguel Jiménez, Partner:

+ 52 55 5258 1058, lmjimenez@vwys.com.mx

Ma. de Lourdes Salazar y Vega, Associate:

+ 52 55 5258 1058, mlsalazar@vwys.com.mx

 

 

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