Singapore-Mexico Free Trade Agreement

The agreement contains detailed provisions on civil law enforcement measures. With respect to border enforcement, rights holders may require customs authorities to confiscate counterfeit branded products and copyright products manufactured illegally in Singapore. Trade and investment cooperation between Singapore and Mexico has intensified in recent years, with bilateral trade amounting to $4.7 billion in 2018, making Singapore`s Mexico Latin America`s second-largest trading partner. The free trade agreement also provides for cooperation between the parties, including green labels and green public procurement, the removal of barriers to trade in climate-friendly goods and services, such as sustainable renewable energy; the gradual reduction of fossil fuel subsidies and the promotion of corporate social responsibility practices. Trans-Pacific trade has also increased significantly. America is a very important part of the Asian economic world. It prohibits « race-to-down » practices that lower labour and environmental legislation in order to attract trade or investment, while recognising the rights of the EU and Singapore to define their own level of environmental and labour protection. « Mexico and Singapore are strategically located close to the centres of our regions. As a gateway to the countries around us, we can be pioneers in trade and commerce, » he said. In 2018, Mexico and the European Union reached an « agreement in principle » to update their trade agreement, which replaces the 2000 EU-Mexico economic partnership. The new agreement allows EU companies to sell more services to Mexico and commits to protecting workers` rights and the environment. Although technical rules are important, they can sometimes be an obstacle to international trade, which is a significant burden for you as an exporter.

The RCEP establishes a modern, comprehensive, quality and mutually beneficial economic partnership that builds on ASEAN`s existing bilateral agreements with its five partners in the Free Trade Agreement (FTA). The RCEP, which accounts for about 30% of the world`s gross domestic product (GDP) and accounts for nearly one-third of the world`s population, is the world`s largest free trade agreement to date. As an important regional agreement, the Singapore RCEP will complement the existing network of free trade agreements, expand our economic space and stimulate trade and investment flows. In America, you have the North American Free Trade Agreement (Nafta) and Mercosur in South America. Nafta, which would soon become the U.S.-mexico free trade agreement, Mexico, was one of the first multilateral free trade agreements. It created one of the world`s largest trading blocs after gross domestic product. It is equally important that it has used a new era of regional and bilateral trade agreements. The agreement recognises and protects the geographical indications of wines, spirits, agricultural products and foodstuffs originating in the territories of the European Union or Singapore.

 

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