Mexico Should Seek Free Trade With Brazil:
Calderon
MEXICO CITY (Reuters) - Mexico and Brazil
should negotiate a free trade agreement to
boost commercial ties, Mexican President
Felipe Calderon said on Saturday.
Calderon, who is in Brazil for a state
visit, is a staunch supporter of free trade
and has argued that opening up trade is the
easiest way for poor nations to develop
their economies.
"Today we should understand that the
opportunity for Mexico and Brazil is a
greater integration of commercial ties,"
Calderon said in a speech in Sao Paulo,
Mexican media reported.
Mexico's economy has been slammed by the
recession in the United States, its biggest
trading partner. Gross domestic product is
expected to contract by at least 6.5 percent
this year, putting Mexico on track for its
worst economic downturn since the Great
Depression.
Mexico currently sends about 80 percent of
its exports to its neighbor to the north.
Earlier in the day in the Uruguayan capital
Montevideo, Calderon warned that global
trade talks were in danger and that rising
protectionism posed a threat to the economic
recovery.
"Only through closer economic integration
can we get back on the path of growth,"
Calderon said in a speech to the Latin
American Integration Association.
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