Mexico & Turkey agrees to speed up Negotiations for Free Trade Agreement

Posted on:06 Feb 2017 09:39:15
Mexico & Turkey agrees to speed up Negotiations for Free Trade Agreement
06 February 2017 Current Affairs: Mexico and Turkey on February 3, 2017 agreed to speed up negotiations on bilateral free trade agreement facing US President threat to leave North American Free Trade Agreement (NAFTA).

Mexican Foreign Minister Luis Videgaray and visiting Turkish counterpart Mevlut Cavusoglu held seven rounds of talks in Mexico City.

Besides, the two nations also proposed to strengthen MIKTA forum which is a political and trade forum that includes Mexico, Indonesia, South Korea, Turkey and Australia.

The United States, Canada and Mexico are preparing to renegotiate the North American Free Trade Agreement (NAFTA). However amid Trump’s threat to leave NAFTA, Mexico is speeding up negotiations with the European Union and seeking to tighten trade bonds with other nations.

Earlier Mexico launched free trade negotiations with Australia, Brunei, Malaysia, New Zealand, Singapore and Vietnam following the US withdrawal from the Trans-Pacific Partnership (TPP) free trade treaty.

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