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The 12-nation Trans Pacific Partnership (TPP), if finalised, could double Mexico’s agricultural exports to Japan, revealed a senior trade official in Mexico
The TPP is expected to cover 40 per cent of the world economy, and raise annual global economic output by US$300bn, stated a report by Reuters.
Mexico’s deputy trade minister Francisco de Rosenzweig said that the Latin American nation’s main aim in the final stretch of TPP negotiations is to maintain privileges with the USA, which is the destination for about 75 per cent of the country’s exports.
In addition to retaining its presence in the USA, Mexico is keen on opening itself to new markets in Asia.
With the TPP being implemented, it would take about five years for Mexican exports to Japan, to reach US$2bn annually, said Rosenzweig, adding that its the government’s priority to strengthen their market in Southeast Asia.
Specifically, Japan’s agriculture and livestock markets are being eyed by Mexico.