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News Article

Mexico and France Strengthen Agricultural Agreements

By María Fernanda Barría | Wed, 02/24/2021 - 17:46

Strengthening technical cooperation and trade relations between Mexico and France, reviewing the bilateral agricultural agenda and promoting cooperation mechanisms for a competitive and sustainable primary sector were the conclusions drawn after the virtual meeting held between Víctor Villalobos, secretary of Minister of Agriculture and Social Development and Jean-Pierre Asvazadourian, French Ambassador to Mexico.

According to a SADER statement, both officials agreed on the need to renew the legal framework for agro-industrial cooperation between the two countries, resulting in an MoU on cooperation in agriculture, livestock and fisheries between SADER and the French Ministry of Agriculture and Food.

According to Forbes, trade between Mexico and the UE tripled between 2000 and 2018 as a result of the free-trade agreement signed by both entities. Forecasts are optimistic, as trade transactions have grown by 7.6 percent annually since the beginning of this century. Among the advantages of the treaty are the elimination of tariffs and the enhancement of trade and investment, for which mechanisms have been created to limit disputes between the private sector and states, mainly the State of Mexico, Nuevo Leon, Jalisco, Mexico City and Puebla, which account for 54.9 percent of all European investment in the country.

In this context, FAO has suggested that Latin American and Caribbean countries develop trade and fiscal policies that keep world trade open to avoid alterations in domestic prices or reductions in supply. Despite the problematic global situation caused by the pandemic, the Mexican agribusiness sector has taken advantage of the opportunity to show its potential.

The data used in this article was sourced from:  
SADER, FORBES, FAO
María Fernanda Barría María Fernanda Barría Junior Journalist and Industry Analyst