Two emerging economies in their respective regions, Turkey and Mexico, have taken the initial steps towards a Free Trade Agreement (FTA) to take bilateral business and trade to higher levels.
A series of agreements inked between Turkey and Mexico will help realize the existing potential between the two countries, according to Turkey’s President, Abdullah Gul, hosting the Mexican President, Enrique Pena Nieto, in Ankara.
“Turkey and Mexico have reached an agreement to start negotiating for a free trade deal. Agreements regarding the prevention of double taxation, investment cooperation and many others have been signed to forge closer business and trade ties between our nations” President Gul said following the meeting with his Mexican counterpart.
A Memorandum of Understanding (MoU) was also signed between the Investment Promotion Agency of Turkey (ISPAT) and Mexico’s investment promotion agency, ProMexico, during Pena’s visit, which both sides agreed on cooperating to bolster business, trade and investment ties between the two countries.