Brazil-Mexico Trade Deal: A Step Forward in Agriculture and Biofuel Collaboration
Brazil and Mexico are set to formalize complementary trade deals by next year, focusing on agriculture, health, and biofuels. Brazil aims to ship more beef to Mexico while working on livestock traceability. Both countries are also exploring collaboration in biofuel mandates and electric-vehicle battery production.
In a significant move towards enhanced economic collaboration, Brazil and Mexico plan to sign complementary trade deals by August next year, according to Brazilian Vice President Geraldo Alckmin, following his meeting with Mexican President Claudia Sheinbaum. The preliminary agreements signed aim to bolster sectors such as agriculture, health, and biofuels.
Brazil is eager to expand its beef exports to Mexico, now one of its top destinations, though it must first comply with Mexico's 'traceability' requirement for livestock. 'What we want is for the sale of Brazilian products not to be interrupted while Brazil moves towards traceability,' Alckmin stated, marking significant trade developments between the two nations.
In addition to beef trade, discussions also covered potential joint efforts in biofuel technology and the production of electric-vehicle batteries. Sheinbaum expressed interest in Brazil's advanced biofuel strategies, while Alckmin highlighted the potential for Brazilian companies, like motor maker WEG, to expand their footprint in Mexico's burgeoning electric-vehicle industry.
(With inputs from agencies.)
Google News