Mercosur and Mexico signed an agreement which virtually liberates all bilateral auto industry trade and opens prospects for joint undertakings world wide. The event took place in Montevideo, administrative capital of Mercosur.
“The crux of the agreement is that it makes us premier league players in a sector of high technology and competitiveness”, said Mexican ambassador in Uruguay Cassio Luiselli Fernandez.
Asian countries are very strong in the auto industry sector and it’s most positive that Latin America decides to strengthen “this strategic area” so that “we can grow and advance together” in the sector said the Mexican diplomat.
Luiselli said that Mexico and Mercosur members, including Venezuela in the process of incorporation, have an annual trade in the auto sector of almost 25 billion dollars.
The new accord expands the Economic Complementation Agreement, ACE, which Mexico and Mercosur enjoy in the framework of the Latin American Integration Association, ALADI, which has its seat in Montevideo and was where the agreement was signed Friday.
“Most certainly the agreement will enable greater investments of Mexican corporations in Mercosur and reciprocally; I’m sure that in coming months there will be a greater supply of Mexican cars and brands in South America and we will be receiving more cars from Mercosur”, said the ambassador.
He added that the agreement means Latin America has a major industry platform in the north, and in the south in the River Plate and in
Sao Paulo, which “will give us the capacity to compete jointly in world markets”.
Ambassador Luiselli insisted it is possible to compete with Asia: “Argentine had a very competitive industry three, four decades ago; Mexico rolls out over 3 million cars annually and Brazil 4 million, which makes us formidable competitors”