Brazil and Mexico Forge Path to Strengthened Trade

Brazil and Mexico are set to bolster their trade relations by signing complementary trade agreements next August, announced Brazilian Vice President Geraldo Alckmin. Following talks with Mexican President Claudia Sheinbaum in Mexico City, Alckmin highlighted potential collaborations, such as developing electric vehicle batteries and enhancing Brazil's biofuel mandate, which Sheinbaum finds promising.

Additionally, discussions included Mexico's potential purchase of defense aircraft from Brazilian manufacturer Embraer, as stated by Alckmin. Mexican Economy Minister Marcelo Ebrard emphasized that the focus will be on sector-specific agreements rather than a comprehensive free trade agreement.

Alckmin further clarified that Brazil must navigate its trade negotiations through the Mercosur trade bloc, precluding any independent free trade deals with Mexico. The leaders aim to update existing agreements to reflect evolving economic landscapes and interests.

(With inputs from agencies.)