Free trade agreements work to reduce trade barriers. They ease restrictions, making importing and exporting goods between countries easy. The deals are beneficial to both party countries, making them a valuable tool for establishing long-term trade relationships.

Mexico has more fair trade agreements than any other country. Here's some information about what those agreements entail:

NAFTA

The North American Free Trade Agreement (NAFTA) began in 1994. It's between the United States, Canada, and Mexico. NAFTA set guidelines for tariff-free goods and streamlined border processes.

According to Mexico import data, NAFTA saw a massive increase in agriculture, manufactured goods, and other commodities. In 2016, the value of those goods was over $1.1 trillion.

The US-Mexico Trade Agreement (USMCA) made some changes to NAFTA. It strengthened the US and Mexico relationship, leading to more automobiles originating in North America. If you need Mexico import data, visit this website.

EFTA

The European Free Trade Association (EFTA) signed a free trade agreement with Mexico in 2000. It covers industrial and marine products. The deal removed tariffs and also covers trade in investments and public procurement.

Mexico-Central America

This FTA is between Mexico, Costa Rica, Nicaragua, and the Northern Triangle of nations. The deal expanded trade between parties and laid the groundwork for enhanced customs procedures.

Mexico-Colombia

This agreement has been around since 1994. According to Mexico import data, it's provided many positive benefits to both countries. However, the FTA continues to evolve. It includes measures for market access, tariff rates, customs procedures, and more.

Pacific Alliance

The alliance is between Mexico, Chile, Colombia, and Peru. It accounts for about 38 percent of the region's foreign direct investment. The agreement is about using trade to improve the quality of life for citizens.

Mexico-Panama

This FTA came to be in 2004. However, it is built upon previous agreements. It opens markets to trade and eliminates tariffs on virtually all manufactured goods.

Those are just a few of Mexico's many free trade agreements. The nation uses the deals strategically to boost its trade operations and support the economy. While trade is always evolving, Mexico seems ever-keen to strike up deals that benefit its citizens and businesses.

Read a similar article about Costa Rica import data here at this page.