A Mexico-Japan Trade Deal
Six years after former Mexican President Ernesto Zedillo first floated the idea, Mexico and Japan are set to sign an historic Free Trade Agreement. This is only Japan's second FTA; the first was with Singapore. The deal, which covers most industrial products along with certain agricultural goods and which takes effect in April, 2005, is expected to boost Japan's exports to Mexico by 30% and its imports from Mexico by 11%, according to a study carried out by the Japanese government. The two countries exchanged $8.2 billion worth of goods last year. Japan ships mainly consumer electronics and heavy machinery to Mexico, while the Latin nation sends mostly agricultural products such as pork and processed goods such as tequila the other way.
Edited by Patricia Kranz