The UK signed a continuity trade agreement with Mexico on Tuesday (15.12.2020), which will ensure that trade between the two countries is not interrupted after the Brexit transition period ends next year.
El agreement This will see the two countries continue to trade on the same terms as in the EU-Mexico trade deal, although both sides have pledged to start negotiations on a new trade deal next year.
The UK-Mexico trade partnership is currently worth £5 billion (about $6,600 billion), with the automotive, pharmaceutical, textile, agricultural, food and drink sectors being the biggest contributors.
International Trade Secretary Liz Truss said the deal is a step towards joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) of which Mexico is a member.
The association also includes countries such as Australia, Canada, Japan and Singapore.
The UK will apply to join the trading bloc in early 2021.
"This is the seventh trade deal we have struck with a member of the CPTPP, the grouping of 11 dynamic economies around the Pacific," Truss said.
He added: “So it’s another really important stepping stone for the UK to join CPTPP, and I look forward to submitting our application to do so early next year.”
Truss has now signed renewal trade deals with a swathe of non-EU countries that will ensure the UK can trade with these nations on the same terms as it had before Brexit.
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