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Mexico, Turkey Hold Fifth Round Of FTA Talks

Mexico and Turkey held a fifth round of negotiations towards a free trade agreement (FTA) between July 21 and 24.

Progress was made during the fifth round, according to a statement from Mexico's Ministry of Economy. The two sides discussed a range of issues related to the proposed FTA, including market access, rules of origin, customs and trade facilitation, technical barriers to trade, sanitary and phytosanitary measures, trade remedies, trade in services, investment, and legal and institutional affairs.

It is expected that the FTA negotiations will be concluded by the end of this year. The first round of negotiations was held in July last year.

Turkey is Mexico's second-largest trading partner in central and eastern Europe. From 1999 to 2014, bilateral trade increased 15-fold, reaching USD967m last year.

A double tax agreement between Mexico and Turkey came into force on July 23, 2015.

Mexico has FTAs in place with a number of Latin American countries. At the beginning of last month, an FTA between Mexico and Panama became effective.

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