LatinNews Daily - 23 June 2026

*Mexico’s foreign (SRE) and economy (SE) ministries have ratified the accession of the UK to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This means that, effective as of yesterday (22 June), the UK has joined the CPTPP, an Asia-Pacific trade bloc that comprises Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. In a joint statement, the SRE and SE stated that Mexico is a founding member of the CPTPP, which has been in force in the country since December 2018. With the UK’s accession taking effect, both countries will benefit from the provisions of the agreement, which the ministries say will strengthen the bilateral economic relationship. Currently, trade between the UK and Mexico is characterised by high-value-added goods such as machinery and industrial equipment, as well as vehicles and auto parts. Under the CPTPP, industrial and agri-food products will be duty free between Mexico and the UK, “which will allow for further expansion of our trade”. The SRE and SE stated that the CPTPP will also support the strengthening of priority sectors under President Claudia Sheinbaum’s Plan México, such as the automotive, aerospace, and pharmaceutical sectors, by promoting investment in Mexico and technology transfer to boost production. Trade and investment between the two countries totalled US$6.3bn in 2025.

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