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Mexico City.- Brazil has put three proposals on the table to re-negotiate the Agreement of Economic Complementation Number 55 (ACE 55) which rules automotive trade between Brazil and Mexico since 2003.
In a phone conference, Francisco de Rosenzweig, Deputy Secretary of Foreign Trade for the Ministry of the Economy, informed that Brazilians want that tax-free imports of heavy trucks into Mexico open at an earlier date than agreed, namely 2016 while it was originally planned for 2020.
“We are willing to revise the Agreement, provided it is under a principle or reciprocity, to have mirror laws and that Mexico may have the same access to the Brazilian market”, he pointed-out.