Mexico rejects negotiations with Argentina on automotive matters

Mexico City.- Bruno Ferrari, Minister of the Economy, said that the Mexican government is not open to any negotiation with Argentina on the Economic Complementation Agreement No. 55 (ACE-55) on automotive matters; and if necessary it will go to the World Trade Organization (WTO) to denounce dumping practices. This was his reply to the declaration made by Debora Giorgi, Argentina’s Minister of Industry, who said they would ask Mexico to renegotiate, as Brazil did last February, under the excuse of those countries’ trade deficit in 2011. “We understand they may be worried, but Mexico’s position before Argentina’s concerns is quite different, because trade with Argentina is much smaller than with Brazil and we are considering, together with other countries, denouncing dumping practices before the WTO. Therefore, if they decide to go on with such proposal, we will be encouraged to act”, Ferrari said.