The International Trade Secretary today [Friday 20 May] launches negotiations on a new UK-Mexico Free Trade Agreement (FTA) alongside her Mexican counterpart, Tatiana Clouthier, in London.

• Deal to boost trade relationship worth £4 billion, and open up one of the world’s largest consumer markets – with a population projected to reach nearly 150 million by 2035
• Major boost for UK services industries, increasing trade in areas like financial services and digital driving economic growth and supporting UK jobs
• Modern, enhanced agreement aims to remove barriers and bureaucracy for small businesses, helping them grow through exports

Negotiating a ‘Mexico 2.0’ deal would transform the UK’s relationship with the world’s 16^th biggest economy and secure a brand-new, enhanced FTA for a digital age, which supports hi-tech jobs, industries of the future and grows our economy.

Mexico is a major market for UK exporters. Its expanding population means demand for imports is set to grow by 35% by 2035. It is located in a strategically situated part of the world, serving as a gateway to the Americas as well as to the dynamic trans-Pacific region.

UK negotiators will look to go further and deeper in areas like services and technology, boosting a trade relationship already worth over £4 billion. The agreement could increase trade flows across the financial, creative, digital and technology services sectors thanks to advanced services provisions, boosting the UK’s already world-leading services industries.

It is the third major FTA negotiations launched by Trade Secretary Anne-Marie Trevelyan this year - following visits to kick off talks in India in January and Canada in March.

Secretary of State for International Trade Anne-Marie Trevelyan said:

“This enhanced deal would transform our relationship with Mexico, making the most of the immense opportunities its dynamic business landscape and young, growing population offer.

“From autonomous vehicle manufacturers in the West Midlands, to Wales’ green tech businesses and Scotland’s thriving food and drink sector, companies of all shapes and sizes across the UK stand to benefit.

“Trade deals like this are vital to growing the economy to address the cost of living, as they support jobs, help businesses thrive and spur investment. We’ve already kickstarted negotiations with India and Canada and are close to joining the CPTPP free trade area, with a combined GDP of £ 9 trillion, of which Mexico is a key member.”

Further information on the launch can be found via the following links and attachments, which can be found below: 

• Joint Statement
• DIT Press Release
• Public Bundle