MEXICO CITY, June 12 (Xinhua) -- Representatives of Mexico and Brazil on Monday began a sixth round of negotiations to increase economic and commercial exchange, said the Ministry of Economy of Mexico.
"Mexico and Brazil seek to increase economic-trade exchange between two of the largest economies in Latin America, and at the same time establish a robust legal framework that provides transparency and certainty to the foreign trade processes between the two countries," the ministry said in a statement.
These talks, aiming to extend and deepen the Economic Complementarity Agreement 53 and scheduled to run through Wednesday, followed up on earlier consultations on Market Access, Rules of Origin, Sanitary Measures and Dispute Resolution, among other matters.
"This negotiation is part of Mexico's integration strategy with Latin America, and reiterates its commitment to free trade as a fundamental pillar of growth and economic development," the ministry added.
Brazil is Mexico's leading Latin American trade partner and the second largest destination of exports.
In 2016, bilateral trade amounted to 7.789 billion U.S. dollars, according to the ministry.
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