Mexico-Japan pact.(LEGAL EASE)(free trade agreements)(Brief Article)

A new era for trade and investment between Mexico and Japan began on April 1.

The new free trade agreement contains specific legal provisions that will govern commercial activities between the countries, while assuring long-term facilitation and market access to respective goods and services. In addition, the agreement establishes specific operational and dispute resolution procedures, as well as mechanisms to promote effective application of existing trade and competition laws.

Mexico will immediately have access to the Japanese agricultural and industrial markets and will obtain accelerated commercial preferences to facilitate market entry.

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Mexico now receives tariff liberalization that applies to 91 percent of the Japanese industrial market. Japan obtained similar benefits in only 40 percent of Mexican tariff classifications. It is estimated that trade with Japan will grow at an average annual rate of 10 percent and result in the creation of 80,000 jobs a year.

LegalEase is compiled by Edward M. Ranger (EdRanger@usa.net), the only U.S. environmental lawyer licensed to practice in Mexico.

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