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Weekly Report - 18 May 2017 (WR-17-19)

TRACKING TRENDS

MEXICO | Diversifying trade. The Mexican government is taking steps to diversify foreign trade in the wake of the uncertainty surrounding the future of the North American Free Trade Agreement (Nafta). The head of foreign affairs at the agriculture and livestock ministry, Raúl Urteaga, conducted a one-week visit to the cities of Buenos Aires and São Paulo over the last week, accompanied by 17 businessmen. Urteaga said that Mexico traditionally imported yellow maize, rice, wheat and soybeans from the US, but in the event of tariffs being imposed, and reciprocal measures adopted by Mexico, the four grains could be imported from Brazil and Argentina, both of which are keen to deepen trade ties between the Southern Common Market (Mercosur) and the Pacific Alliance trade bloc, comprising Mexico, Chile, Colombia and Peru.

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