MEXICO CITY (Reuters) – Mexico and Brazil should negotiate a free trade agreement to boost commercial ties, Mexican President Felipe Calderon said yesterday.
Calderon, who is in Brazil for a state visit, is a staunch supporter of free trade and has argued that opening up trade is the easiest way for poor nations to develop their economies.
“Today we should understand that the opportunity for Mexico and Brazil is a greater integration of commercial ties,” Calderon said in a speech in Sao Paulo, Mexican media reported.
Mexico’s economy has been slammed by the recession in the United States, its biggest trading partner. Gross domestic product is expected to contract by at least 6.5 per cent this year, putting Mexico on track for its worst economic downturn since the Great Depression.
