EFTA and Mexico to amend Free Trade Agreement

The EFTA-Mexico Joint Committee met for the fourth time since the entry into force of the FTA in 2001. It adopted an amendment to the Agreement which will allow exporters from both sides to split up consignments of goods in a third-country. The new transportation rule will facilitate trade and help economic operators to further benefit from the opportunities created by the free trade agreement. The amendment is subject to ratification by the EFTA States and Mexico.

The Joint Committee also discussed other parts of the FTA and agreed to explore the possibility of further amendments, such as banning export duties and extending the coverage of trade in processed agricultural products. Regarding trade in services, the Joint Committee noted the ongoing process between EFTA and Mexico to review their specific commitments and welcomed the progress made.

The Agreement with Mexico was the first FTA that EFTA concluded with an overseas partner country. EFTA merchandise trade with Mexico has almost doubled since 2000, reaching a total value of 1.5 billion USD in 2007, with machinery and pharmaceuticals constituting the leading export items originating in EFTA.