ZCZC
BCN-40
BRAZIL-MEXICO-TRADE-NAFTA
New NAFTA may affect Brazil’s exports to Mexico: expert
RIO DE JANEIRO, Aug. 31, 2018 (BSS/Xinhua) – The renegotiation of the
North American Free Trade Agreement (NAFTA) may have a negative effect on
Brazil’s exports to Mexico, Jose Augusto de Castro, head of the Brazilian
Foreign Trade Association (AEB), said Thursday.
The renegotiation of NAFTA may affect the Brazilian automobile sector,
since Mexico would have to increase local production and prioritize trade
with the United States, Castro was quoted by national new agency Agencia
Brasil as saying.
It may even affect the Brazil-Mexico trade agreement that is under
negotiation between the two countries, Castro said.
Mexico is one of the main markets of Brazil’s automobile sector, importing
some 20 percent of Brazil’s auto parts.
Castro said the markets for Brazil’s manufactured products need to be
preserved.
Washington announced Monday that the United States and Mexico had reached
a preliminary bilateral trade pact that would replace NAFTA.
BSS/XINHUA/HR/1215