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Mexico is one of the countries worldwide with more signed Free Trade Agreements (FTA), eleven in total, with 42 countries.
Its commercial relations through free trade cover some of the world's leading economies like the United States, Canada and the European Union which comprises 15 countries. Its correspondence also aims to free trade with Latin America, particularly with Chile and recently with Uruguay.
"Mexico is one of the most open countries in economic and trade that exists in the world," said Eduardo Ramos Undersecretary for International Trade Negotiations of the Economy Secretariat. But what benefits have been left?
In 1994, Mexico signed the North American Free Trade Agreement (NAFTA), with the United States and Canada.
Of all the trade agreements signed by Mexico with other countries, the FTA with the U.S. and Canada is the one which has left more benefits for the Mexican economy.
In 1994, Mexican exports to the United States were $40 billion dollars; in 2004, exports grew to $150 billion dollars.
With the U.S. trade has tripled, we are trading with the United States about 80% of our trade which explains this strong impact.
In June 2001, Mexico expanded its business horizon by signing the FTA with the European Union. But the results so far are limited.
In 2008, Mexican exports to European countries grouped in the European Union were six billion dollars.
Mexico has trade relations with Asian countries like China who has not signed any free trade agreement. However, trade is disadvantageous for Mexico. We export $450 million to China and the country imports.
Here was also recalled that Mexico has a deficit of some $20 billion dollars with the countries of the old continent, amount that would skyrocket if oil exports accounted separately.
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