mexico-efta free trade agreement
demonstrating that it can be done with nafta participants, the swiss government announced on november 6 that mexico and the european free trade association have concluded a free-trade agreement.
according to switzerland's state economic secretariat, the mexico-efta free trade agreement will remove most tariff barriers to trade between mexico and the four efta countries (norway, switzerland, liechtenstein, and iceland) by 2007.
mexico, part of the north american free trade agreement with the united states and canada, signed a far-reaching free trade pact with the 15-nation eu in july of this year. the free trade agreement provides for dismantling most trade barriers between the two jurisdictions by 2010.
initial reports suggest coverage in the mexico-efta fta extends beyond the manufacturing sector. efta nations' banks, insurers, and other service providers will enjoy the same conditions in mexico as those accorded the eu.
reflecting domestic policy pressures, agricultural trade will be regulated by individual agreements between the efta countries and mexico. it is believed these agreements have not yet been concluded.
the new mexico-efta trade agreement is intended to come into force in july 2001.
issn 1492-7187, trade policy monitor, november 2000,
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