RESTRICTED  
  
WT/TPR/G/429  
10 August 2022  
(22-6010) Page: 1/25 
Trade Policy Review Body  Original: Spanish  
 
  
TRADE POLICY REVIEW  
REPORT BY  
MEXICO 
Pursuant to the Agreement Establishing the Trade Policy Review Mechanism (Annex 3 of the 
Marrakesh Agreement Establishing the World Trade Organization), the policy statement by Mexico 
is attached.  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note: This report is subject to restricted circulation and press embargo until the end of the first 
session of the meeting of the Trade Policy Review Body on Mexico.  
  WT/TPR/G/429 • Mexico  
 
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  Contents  
1  INTRODUCTION  ................................ ................................ ................................ ...........  4 
2  ECONOMIC ENVIRONMENT  ................................ ................................ ...........................  4 
3  TRADE NEGOTIATIONS POLICY  ................................ ................................ ....................  6 
3.1  Strengthening the multilateral trading system  ................................ ................................  7 
3.1.1  Reactivation of the Appellate Body (AB)  ................................ ................................ ...... 7 
3.1.2  Revival of the negotiating arm  ................................ ................................ ...................  7 
3.2  Defence of Mexico's interests  ................................ ................................ .......................  8 
3.3  Deepening and opening of new markets  ................................ ................................ .........  8 
3.3.1  Deepening trade agreements  ................................ ................................ .....................  9 
3.3.1.1   Free Trade Agreement between Mexico, the United States and Canada (T -MEC) .............  9 
3.3.1.2   Comprehensive and Progressive Agreement for Trans -Pacific Partnership (CPTPP)  ..........  9 
3.3.1.3   Free Trade Agreement between Mexico and the European Union  ................................ .. 9 
3.3.1.4   Trade Continuity Agreement between Mexico and the United Kingdom of 
Great  Britain and Northern Ireland (TCA)  ................................ ................................ ............  10 
3.3.2  Ongoing negotiations  ................................ ................................ ..............................  10 
3.3.2.1   United Kingdom  ................................ ................................ ................................ ... 10 
3.3.2.2   European Free Trade Association (EFTA) (Iceland, Liechtenstein, Norway and 
Switzerland) ................................ ................................ ................................ ....................  11 
3.3.2.3   Negotiation of the Productive Integration Agreement between Mexico and 
Ecuador  ................................ ................................ ................................ ..........................  11 
3.3.2.4   Republic of Korea  ................................ ................................ ................................ . 11 
3.3.2.5   Pacific Alliance - Associated States  ................................ ................................ .........  11 
3.3.2.6   Argentina  ................................ ................................ ................................ ............  12 
3.3.2.7   Investment Promotion and Protection Agreements (IPPAs)  ................................ .........  12 
3.3.2.8   Hong Kong Special Administrative Region of the People's Republic of China  ..................  12 
3.3.2.9   Prevention of investor -State disputes  ................................ ................................ ...... 13 
4  TRADE POLICY  ................................ ................................ ................................ ...........  13 
4.1  Tariffs  ................................ ................................ ................................ ......................  13 
4.2  Trade facilitation  ................................ ................................ ................................ ....... 13 
4.3  Technical regulations and standards  ................................ ................................ .............  14 
4.4  Government procurement  ................................ ................................ ...........................  15 
4.5  Trade in services  ................................ ................................ ................................ ....... 15 
4.5.1  Financial services  ................................ ................................ ................................ .... 15 
4.5.2  Banks  ................................ ................................ ................................ ...................  16 
4.5.3  Securities market  ................................ ................................ ................................ ... 18 
4.5.4  Telecommunication services  ................................ ................................ .....................  18 
4.5.4.1   Promoting competition and expanding services  ................................ .........................  20 
4.5.5  Transport services  ................................ ................................ ................................ .. 20 
4.5.6  Tourism  ................................ ................................ ................................ .................  21 
4.6  Intellectual property  ................................ ................................ ................................ .. 21 WT/TPR/G/429 • Mexico  
 
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  5  ENHANCE THE INCLUSION AND PARTICIPATION OF WOMEN AND SMES IN 
MEXICO'S ECONOMY AND INTERNATIONAL TRADE  ................................ ........................  22 
5.1  Mexico's actions to promote gre ater participation of women in the Mexican economy 
and international trade  ................................ ................................ ................................ ..... 22 
5.2  Micro, small and medium -sized enterprises in Me xico ................................ ......................  23 
6  CONCLUSIONS  ................................ ................................ ................................ ...........  24 
 
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  1  INTRODUCTION  
1.1.  This Seventh Trade Policy Review of Mexico covers a period of great international economic 
instability. As an open economy with strong economic ties with the international community, our 
country has been hit by the adverse  effects of this envi ronment.  
1.2.  However, Mexico's macroeconomic strength, coupled with the implementation of measures by 
the monetary authority and the Federal Government, ha ve mitigated these effects. Trade also 
remained strong, with both imports and exports exceeding the level s seen in the years prior to the 
pandemic.  
1.3.  Mexico has continued its process to open up  trade through the modernization of major trade 
agreements with the United States, Canada and the European Union. It has also done so through 
the signing and entry into force of the Comprehensive and Progressive Agreement for Trans -Pacific 
Partnership (CPT PP) and the Trade Continuity Agreement between Mexico and the United  Kingdom.  
1.4.  This report comprises five sections. The first describes the impact of the economic environment, 
marked by uncertainty in the international markets, on Mexico's economic developm ent. This is 
followed by a description of our country's trade negotiations policy at the bilateral, regional and 
multilateral levels. The key aspects of the trade policy implemented over the past five years are then 
outlined. The fourth section describes t he policies and actions implemented by Mexico to improve 
the integration of small and medium -sized enterprises (SMEs) and of women into the economy. The 
final section presents the conclusions.  
2  ECONOMIC ENVIRONMENT  
2.1.  The review period was marked by significan t developments in the international arena that have 
had a major impact on economic development and, in particular, on Mexico's  trade:  
• Although the renegotiation of the North American Free Trade Agreement (NAFTA, now 
T-MEC) gave rise to positive expectation s as it adapted the Agreement's rules to the 
realities of  trade today , there was also significant uncertainty throughout its negotiation  
process  regarding the outcomes and eventual conclusion.  
• The imposition of trade measures and counter -measures by the United States on China 
created great uncertainty in the international markets , both because of  the products 
covered and the duration of the measures.  
• The COVID -19 pandemic, one of the most severe  health crises in recent times, caused the 
global economy and, as a result, world trade, to shrink significantly, with serious 
repercussions for  our country.  
• The recent geopolitical crisis stemming from the conflict between Russia and Ukraine has 
led to an  increase in food, fuel and fertilizer prices, as well as to greater economic 
uncertainty and lower global growth expectations.  
2.2.  All these factors have resulted in low growth in our country, with GDP declining significantly 
in 2020 ( -8.3%) as a result of th e COVID -19-induced economic paralysis.  
2.3.  The Government of Mexico therefore adopted measures to address  the pandemic, such as:  
• Advance payments  equivalent  to up to eight months of pensions . 
• Acceleration of the processes for refunding value -added tax  (VAT) . 
• Loans, known as créditos a la palabra , for SMEs if they keep their employees on the payroll.  
• Créditos a la palabra  for the self -employed.  
• Support in the form of liquidity and guarantees from the development bank.  WT/TPR/G/429 • Mexico  
 
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  • Three months' financial support for workers who lose their jobs and have a mortgage with 
the Institute of the National Fund for Workers' Housing (INFONAVIT).  
• The adoption of measures and facilities by the Bank of Mexico (Banxico) to provide liquidity 
for the healthy development of the financial syst em, promote the orderly functioning of 
the financial markets and strengthen credit channels.  
• Joint efforts by the Federal Government and entrepreneurs to guarantee the supply of 
food and stocks, and to ensure that distribution remained uninterrupted.  
• Expan sion of digitization services for administrative procedures for import s and agri -food 
export s. 
2.4.  In addition to the above, Mexico's sound macroeconomic policy framework — which is based 
on responsible debt management, a monetary policy focused on ensuring low and stable inflation , 
and a flexible exchange rate — has safeguarded economic stability and easy access to international 
capital markets.  
2.5.  At the same time, facilitati ng foreign trade to maintain the flow of vaccines and medical 
products during the pandemic and supporting the prompt  revival of supply chains  (mainly those 
integrated in the North American regional market ) by enabling the resumption of productive 
activitie s in sensitive sectors , such as the automotive sector , made a significant contribution to 
Mexico's economic recovery, with foreign trade as its driver of growth. Following a 12.6% drop in 
total trade in 2020, pre -pandemic levels were exceeded in 2021, topping the billion -dollar mark.  
2.6.  With regard to inflation, Banxico  has constantly monitored the behaviour of this economic 
variable and its determinants, setting a benchmark rate aimed at achieving the orderly and sustained 
convergence of headline inflation to  the 3% target within the period covered by the monetary policy.  
2.7.  The foregoing takes on greater  relevance because, as a result of  the worldwide inflationary 
pressures generated by the COVID -19 pandemic, which disrupted production and distribution chains, 
inflation in Mexico has exceeded 7%  in recent months , which is higher than the target of 3%. It 
should be noted that this phenomenon of high inflationary pressure is being seen  in practically all of 
the world's economies.  
2.8.  On the other hand, despite an unfav ourable international economic environment, the Mexican 
economy is showing signs of strength:  
• A stable exchange rate that has not seen any significant depreciations over the review 
period.  
• International reserves amounting to almost USD 200 billion in May 2 022, which is 
equivalent to almost five months ' worth  of exports.  
• Responsible public debt management, along with a significant credit line from the 
International Monetary Fund.  
• One of the lowest unemployment rates among members of the Organisation for Economic 
Co-Operation and Development (OECD).  
2.9.  Similarly, trade and investment flows grew steadily, with the exception of the period affected 
by the pandemic.  
2.10.  Exports increased by 12.5% from 2017 to 2019, rising from USD 409 .4 billion to 
USD 460.6 billion. In 2020, the year hit hardest by the pandemic, exports declined by 9.4% on 
2019. However, in 2021 they exceeded pre -pandemic levels, amounting to USD  494.8 billion, which 
is an 18.6% increase on the previous year.  
2.11.  Imports performed very similarly, with growth of 8.3% from 2017 to 2019, rising from 
USD 420.4 billion to USD 455 .2 billion. As with exports, 2020 saw imports fall substantially by WT/TPR/G/429 • Mexico  
 
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  around  15.9% , standing  at USD 383 billion. However, in 2021, they recovered signifi cantly by 32%, 
exceeding pre -pandemic levels to reach USD 505 .7 billion.  
2.12.  In terms of attracting foreign direct investment (FDI), Mexico is among the top 10 recipient 
countries.1 From 2017 to 2019, FDI flows remained at around USD 34 billion. However, as w ith 
trade, they fell by 18.3% in 2020 before  recover ing in 2021  to reach USD 31 .7 billion.  
2.13.  With cases of COVID -19 at low levels and an ever -increasing proportion of the population 
vaccinated, the outlook for economic growth remain s positive.  
3  TRADE NEGOTIAT IONS POLICY  
3.1.  Through the Sectoral Programme for the Economy 2020 -24, Mexico has committed to: 
developing and implementing comprehensive policies for innovation, diversification and inclusion in 
production and trade; stimulating domestic and foreign investme nt; encouraging the use of mineral 
resources; and boosting the productivity and competitiveness of the economy  to integrate  it into 
regional and global value chains, with a view to improving the lives of the country's population.  
3.2.  Four major  areas of action  were therefore identified:  
(1) Promoting innovation in and the economic development of productive sectors.  
(2) Driving competition in the domestic market and regulatory improvement.  
(3) Promoting the creation and consolidation of productive micro, small and medium -sized 
enterprises (MSMEs) for greater productive inclusion.  
(4) Fostering economic diversification for greater equality among regions and sectors.  
3.3.  Our country's trade policy is shap ed by  the final objective  and 10 lines of action have been set 
out to that end : 
(1) Strengthening the network of trade and investment treaties and agreements.  
(2) Designing strategies and actions to drive the integration and participation of Mexican 
companies in g lobal and regional value chains.  
(3) Diversifying agri -food products for export, and seeking new markets from which to 
import goods that guarantee supply on the domestic market.  
(4) Promoting the increase of domestic content in exports, within the framework of our  
international commitments.  
(5) Designing far -reaching national outreach schemes to enable Mexican companies to 
make better use of the various trade and investment instruments.  
(6) Designing a tariff strategy that allows for productive linkages to increase 
competitiveness in Mexico.  
(7) Preparing analyses or studies on potential market or product diversification for Mexican 
exports, through business intelligence methodologies that offer opportunities for 
regional economic development.  
(8) Disseminating information, studies and analyses among government and business 
sectors for the diversification of national exports.  
(9) Ensuring technical support from government laboratories for the assessment of quality 
and safety parameters for exports.  
(10)  Strengthening global value chai ns to boost exports of medicines and medical devices.  
 
3.4.  This has underpinned Mexico's trade policy work, meaning that the export sector and the 
attraction of FDI remain  key components for national economic development, the creation of more 
and better jobs, access to new technologies and production processes , and a  wider range of 
competitively -priced goods and services for consumers, producers and suppliers alike.  
3.5.  During the period covered by this Trade Policy Review, Mexico  has consolidated its commitment 
and goal to strengthen and improve the efficiency of its export platform, with a view to further 
diversifying markets and exportable supply , increasing the competitiveness of the domestic 
productive sector and integrating more efficiently in to regional and g lobal value chains.  
 
1 World Investment Report 2022, UNCTAD.  WT/TPR/G/429 • Mexico  
 
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  3.6.  To that end, Mexico has worked on three trade -related strategic agendas . 
3.1  Strengthening the multilateral trading system  
3.7.  Mexico has established itself as a n attractive recipient  of investment and a platform 
for exporting to the world. Thi s has in large part been possible thanks to the existence of a 
strong,  transparent and non -discriminatory multilateral trading system, underpinned by a  
World  Trade  Organization ( WTO) that is committed to fulfilling its mandate.  
3.8.  However, since the previous review of our trade policies, the WTO has been plunged into one 
of its most severe crises, which is threatening key elements of its structure such as the 
Dispute  Settlement Body (DSB ). 
3.9.  In response to this situation, Mexico has been actively working on and participating in  the 
following  initiatives . 
3.1.1   Reactivation of the Appellate Body (AB)  
3.10.  Given the need to take action to address the non -functioning of the AB, Mexico, as a regular 
user of the dispute settlement system , aware of the importance of and need to keep its two tiers  
functioning, has participated in:  
• The Walker Process. Mexico, together with 13 other Members, submitted various proposals 
to address concerns raised about  the funct ioning of the AB and participated actively in the 
discussions convened by Ambassador David Walker.  
• Joint proposal for launching the selection processes for AB members. Mexico has 
spearheaded and submitted this proposal to the DSB on behalf of 123 Members.  
• Multi-Party Interim Appeal Arbitration Arrangement (MPIA). Mexico is conscious of the 
need to provide interested parties and their productive sectors with an interim solution to 
ensure compliance and the right to a second instance in trade disputes at the WTO. 
It therefore negotiated and participates in the MPIA together with 24 other Members.  
3.11.  For Mexico, it is crucial for both tiers of the dispute settlement system to be fully functioning 
and operational  as a binding mechanism that offers guarantees that c urrent and future provisions 
will be respected.  
3.1.2   Revival of the negotiating arm  
3.12.  Mexico welcomes the successful conclusion of the negotiations on fisheries subsidies at the 
recent Twelfth Ministerial Conference (MC12). We are convinced that the WTO has fulfi lled its 
obligation to help stop the plundering of our seas and ensure their sustainability.  
3.13.  In accordance with Article 20 of the Agreement on Agriculture, Mexico considers it a priority 
to press ahead with the agricultural reform process and establish disciplines to reduce 
trade-distorting domestic subsidies and tariffs.  
3.14.  Mexico is an active participant in the joint initiatives , launched by  Members who share a 
common vision and are able  to participate , that seek to  make  new commitments in the areas of 
investment facilitation, e -commerce and services domestic regulation. With regard to the joint 
initiative on services domestic regulation, we welcome its successful conclusion in 2021 and 
encourage other Members to particip ate in it.  
3.15.  Mexico is also actively participating in the joint initiative on MSMEs, as part of which it has led 
the coordination of the Trade4MSMEs platform. At the same time, Mexico supports and is calling for 
the increased participation and inclusion of w omen in international trade. It is therefore actively 
participating in the WTO Informal Working Group on Trade and Gender.  
3.16.  Mexico is participating in the Trade and Environmental Sustainability Structured Discussions 
(TESSD), as it recognizes that internati onal trade and trade polic ies are key factors for facilitating WT/TPR/G/429 • Mexico  
 
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  the transition to a green economy, and supports global efforts to attain the Sustainable Development 
Goals. Our country is therefore calling for discussions on how trade-related environmental m easures 
can contribute to sustainable development and environmental protection.  
3.17.  Mexico is also conscious of the need to provide the WTO with tools to address the challenges 
of trade today and its new realities, and has consequently been a strong advocate f or a WTO reform 
process. It is therefore an active participant in the "Friends of the System" group and the 
Ottawa  Group, which have each submitted communications and proposals in support of the system 
and its reform.  
3.18.  The recent outcomes achieved at MC12 a re a sign that, in a difficult economic environment, 
Members are able to reach consensus in the best interests  of the system. Although we sought more 
ambitious outcomes on agriculture and fisheries, we are sure that the "Geneva Package" will give 
fresh imp etus to a negotiating arm that, for many, had been paralyzed with no prospect of 
movement . 
3.19.  Mexico considers the WTO to be a global public good and is therefore committed to improving 
and strengthening the multilateral trading system.  
3.2  Defence of Mexico's in terests  
3.20.  Mexico has continued to defend the interests of our productive sector in the DSB, participating 
in the following cases  during the review period : 
(a) As complainant:  
3.21.  United States  — Certain Measures on Steel and Aluminium Products . In June  2018, 
Mexico requested consultations with the United States concerning certain measures imposed to 
adjust imports of steel and aluminium. Mexico claimed that the measures appeared to be 
inconsistent with a number of provisions of the Agreement on Safeguards, the GA TT 1994 and the 
WTO Agreement. In May 2019, the United States and Mexico notified the DSB of a mutually agreed 
solution, consisting of the United States' elimination of certain duties on these products from Mexico.  
3.22.  Costa Rica  — Measures Concerning the Importation of Fresh Avocados from Mexico. 
In 2017, Mexico requested consultations with Costa Rica with respect  to certain measures imposed 
that restrict the importation of fresh avocados. The Panel Report confirmed in April 2022 t hat these 
measures are inconsistent with a number of provisions of the Agreement on the Application of 
Sanitary and Phytosanitary Measures and the GATT 1994. It was adopted at the meeting of the DSB 
in May  2022.  
(b) As respondent:  
3.23.  Mexico  — Additional Dutie s on Certain Products from the United States.  In July  2018, 
the United States requested consultations with Mexico concerning the imposition of duties with 
respect to certain products originating in the United States, claiming they were inconsisten t with th e 
GATT 1994. In May 2019, the United States and Mexico notified the DSB that they had reached a 
mutually agreed solution , which  consist ed of Mexico's elimination of certain duties on products 
originating in the United States.  
3.24.  Lastly, Mexico participated in  29 disputes as a third party.  
3.3  Deepening and opening of new markets  
3.25.  Mexico is convinced of the need to further integrate into international markets, which will lead 
to an increase in well -paid jobs , in the best interests  of our population.  
3.26.  It has therefore  embarked upon an ambitious negotiating agenda on the following fronts.  WT/TPR/G/429 • Mexico  
 
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  3.3.1   Deepening trade agreements  
3.3.1.1   Free Trade Agreement between Mexico, the United States and Canada (T -MEC)  
3.27.  Mexico, the United States and Canada agree on the need to continue and deepen econo mic 
integration in North America and, in this way, improve the region's competitiveness as an exporting 
powerhouse of high -quality products and a prime destination for FDI , and adapt to the new realities 
of trade and regional and global value chains. The n egotiation of T -MEC thus sought to strengthen 
this economic integration and posed major challenges for the three countries in areas such as labour 
and environment.  
3.28.  Mexico is committed to consolidating this Agreement as a catalyst for development and a tool 
that helps reduce regional inequalities. As a result, T-MEC: 
• Is being consolidated as a cornerstone of Mexico's trade policy, providing legal certainty 
to trade operators, consumers, service providers, investors and entrepreneurs 
regarding  the three countries' commitment to moving towards economic integration in 
North America that is adapted to  a 21st century economy.  
• Provides more opportunities for small entrepreneurs th anks to  an improved 
business  environment resulting from  new chapters such as Competitiveness, Small and 
Medium -Sized Enterprises , and Digital Trade. 
• Contributes to improving the living standards of workers in the region and strengthens the 
position of and cooperation among the three partners to support environmentally -aware trade.  
3.29.  In order to review the implementation and functioning of the Agreement,  the first meeting of 
the T -MEC Free Trade Commission was held in May 2021, deepening the dialogue on relevant 
matters on the trilateral agenda concerning inclusive trade, labour issues and the environment.  
3.3.1.2   Comprehensive and Progressive Agreement for Trans -Pacific Partnership (CPTPP)  
3.30.  Following the formal withdrawal of the United States from the Trans -Pacific Partnership  (TPP) 
Agreement in January 2017, the 11 remaining members began a negotiation process aimed at 
bringing the benefits of the Agreement to fr uition.  
3.31.  The CPTPP is the most important trade agreement of recent times due to its level of ambition, 
the wide range of disciplines covered and the high standards that it establishes in each of them, 
such as , inter alia , investment, the environment, SMEs a nd labour.  
3.32.  The CPTPP entered into force on 30 December 2018 for Australia, Canada, Japan, Mexico, 
New Zealand and Singapore. It did so for Viet Nam on 14 January 2019 and for Peru on 19 September 
2021. Brunei Darussalam, Chile and Malaysia are yet to ratif y the Agreement.  
3.33.  Three and a half years after its entry into force, the United Kingdom is in the process of joining 
the Agreement.  
3.34.  The CPTPP represents  a key pillar in Mexico's trade strategy by driving its closer integration 
with the Asia -Pacific region, which is one of the most dynamic regions in the world. It is also an 
opportunity to attract greater investment and promote access for Mexican products to international 
markets, thereby contributing to t he diversification of our markets with the region that has the 
strongest growth rates in the world. Moreover, it epitomizes a trade and investment strategy geared 
towards the Asia -Pacific region, with the aim of making Mexico  a central player in the region 's value 
chains.  
3.3.1.3   Free Trade Agreement between Mexico and the European Union  
3.35.  On 28 April 2020, the negotiation process to moderniz e the Agreement's trade pillar, launched 
in 2016, was concluded.  WT/TPR/G/429 • Mexico  
 
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  3.36.  The modernized Agreement is state of the art  and, in addition to opening up increased market 
access for goods and services, updates disciplines and includes new ones such as, inter alia, 
sustainable development, small and medium -sized enterprises, good regulatory practices, 
transparency and anti -corruption.  
3.37.  Through t he modernization of the Agreement, the Government of Mexico is seeking to 
strengthen its relationship with the countries of the European Union, which together are Mexico's 
third largest trading partner globally.  
3.3.1.4   Trade Continuity Agreement between Mexico an d the United Kingdom of 
Great  Britain and Northern Ireland (TCA)  
3.38.  The Trade Continuity Agreement between Mexico and the United Kingdom, which was signed 
on 15 December 2020, entered into force on 1 June 2021.2 The Agreement maintained, from 
1 January  2021,  the trade preferences on market access and the disciplines that were in place under 
the Free Trade Agreement between Mexico and the European Union. It includes adjustments to 
agricultural quotas that reflect current trading conditions and a standard  cumul ation of origin with 
the EU for the rules of origin. In addition, both parties undertake to sign a broader, more modern 
and more comprehensive bilateral free trade agreement in three years' time. Negotiations were 
launched  on 20 May 2022.  
3.39.  To ensure the pro per implementation of the Agreement and its objectives, the schedule of  
import duties , the export quotas for Mexican agri -food products and the general rules on the 
application of customs provisions were published. Moreover, as part of the trade continuity  between 
both countries, 1 September 2021 saw the entry into force of the Agreement on the Mutual 
Recognition and Protection of Designations for Spirit Drinks between Mexico and the 
United  Kingdom, signed on 30 November 2020.  
3.3.2   Ongoing negotiations  
3.3.2.1   United Ki ngdom  
3.40.  Article 9 of the Trade Continuity Agreement establishes that Mexico and the United  Kingdom 
would commence negotiations for an ambitious, modern and comprehensive free trade agreement 
at the earliest possible opportunity and within one year of the dat e of entry into force of the current 
Agreement, striving to conclude them within three years of this date.  
3.41.  The official launch of negotiations for an FTA with the United Kingdom took place on 
20 May 2022 in London, England, as part of which matters on the bilateral agenda were addressed 
in order to identify opportunities for the future sign ature  of the agreement.  
3.42.  Both countries agree that these negotiations represent an historic opportunity to strengt hen 
bilateral trade in areas of mutual interest such as agri -food products and cross -border trade in 
services. We agree on the modernization of rules relating to investment and intellectual property, 
as well as on the inclusion of provisions on matters rel ating to, inter alia , SMEs, gender and 
innovation. Through this initiative, the two nations share visions on the importance of inclusive trade 
and the benefits that an open and global economy brings for both countries' companies and 
consumers.  
3.43.  Moreover , in order to enhance the protection of both countries' appellations of origin, the 
Agreement on the Mutual Recognition and Protection of Designations for Spirit Drinks between 
Mexico and the United Kingdom of Great Britain and Northern Ireland was signed on 
30 November  2020, guaranteeing protection and recognition of the six appellations of origin for spirit 
drinks from Mexico: Tequila, Mezcal, Bacanora, Raicilla, Sotol and Charanda, as well as the 
United  Kingdom's appellations : Scotch Whisky, Irish  Whisky , Uisce Beatha Eireannach/Irish 
Whiskey, Irish Cream and Irish Poteen/Irish Poitín.  
 
2 Decree promulgating the Trade Continuity Agreement between the United Mexican States and the 
United  Kingdom of Great Britain and Northern Ireland (Official Journal of the Federation (DOF) of 1 June 2021).  WT/TPR/G/429 • Mexico  
 
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  3.3.2.2   European Free Trade Association (EFTA) (Iceland, Liechtenstein, Norway and 
Switzerland)  
3.44.  Mexico is still in discussions with the EFTA countries to explore the possibility of modernizing 
the Free Trade Agreement between Mexico and EFTA , which entered into force on 1  July 2001.  
3.3.2.3   Negotiation of the Productive Integration Agreement between Mexico and 
Ecuador  
3.45.  In September 2019, Mexico and Ecua dor signed the General Framework for Negotiation of a 
Productive Integration Agreement between Mexico and Ecuador and the Modalities for the Exchange 
of Tariff Offers on Access to Goods Markets between Mexico and Ecuador. By signing these 
instruments, both  countries formalized the initiation of trade negotiations.  
3.46.  The General Framework for Negotiation provided for the negotiation of 19 chapters, which 
seek to develop disciplines with high standards, adapted to the current international context, which 
will provide certainty and guarantees for both parties' trade and investment operators.  
3.47.  From 2020 to 2021, seven rounds of negotiations took place, in which significant progress 
was made on various chapters to be included in the new trade agreement.  
3.48.  The negotiat ion of this agreement not only seeks to boost  trade and investment flows, but 
also to support , among other  goals, the process of Ecuador's accession to the Pacific Alliance, the 
requirements of which stipulate that the country  must have a bilateral trade a greement with the 
Alliance's member countries.  
3.3.2.4   Republic of  Korea  
3.49.  The Republic of  Korea is Mexico's fourth3 largest trading partner, and the negotiation of a free 
trade agreement represents the next natural step in a strong relationship between two nations  that 
are committed to economic growth and development through trade liberalization.  
3.50.  It is for this reason that, in March 2022, it was agreed to resume negotiations for a modern 
FTA that will allow us to address the challenges and take advantage of the opportunities of the 
21st century, by establishing an institutional framework that reduces barriers to trade in goods and 
services, and facilitates mutual investment and technological exchange.  
3.51.  The FTA will provide a solid basis for strengthening cooperati on on emerging trade -related 
issues, including the resilience of supply chains, environmental sustainability and the digital 
transformation.  
3.52.  This FTA represents an excellent opportunity to diversify Mexico's foreign trade and boost our 
agri-food and indust rial exports.  
3.3.2.5   Pacific Alliance - Associated States  
3.53.  The Pacific Alliance (PA) is a trade integration process comprising  Chile, Colombia, Mexico and 
Peru. One of its main objectives is to establish itself as a platform for policy coordination, economic 
and trade integration and outreach to the world, with particular emphasis on the Asia -Pacific region.  
3.54.  In order to achieve this objective, the trade m inisters of the member countries agreed to 
strengthen the PA's trade integration with other countries through th e "Associated State" model . 
The aim of this model  is to promote trade negotiations, mainly with countries in the Asia-Pacific 
region, which lead to agreements with high economic and trade standards that support the opening 
up and integration of markets, in cluding trade in goods and services and investment.  
 
3 This is the position if the EU member countries are considered as a whole.  WT/TPR/G/429 • Mexico  
 
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  3.55.  During the XII Summit of the Pacific Alliance, on 30 June 2017, the Heads of State of member 
countries announced the opening of negotiations with Australia, Canada, New Zealand and 
Singapore, which are ca ndidate Associated States.  
3.56.  The Free Trade Agreement between Singapore and the members of the PA was signed on 
26 January 2022 at the XVI Presidential Summit. Once this Agreement enters into force, Singapore 
will become the first Associated State of the PA,  thereby strengthening trade integration in the 
Asia-Pacific region.  
3.57.  For Mexico, this Agreement will provide a legal framework and state of the art  trade disciplines 
that increase levels of trade and investment, boost the development of supply chains, and promote 
SME participation in innovation schemes and women's economic participation.  
3.58.  As mandated by the Presidents of the PA member countries in the Bahía Málaga Declaration, 
the negotiation process for the Republic of Korea to become an Associated State wi ll begin in 2022.  
3.3.2.6   Argentina  
3.59.  Bilateral trade between Mexico and Argentina is governed by Economic Complementarity 
Agreement No. 6, as well as by Appendix I of Economic Complementarity Agreement No.  55 for 
bilateral trade in the automotive sector. The latter , which has been in force since 2003, is an 
agreement strengthening trade in one of the main productive sectors  of both countries . 
On 18 March  2022, it was agreed that the annual tariff -free quota mechanism for automotive trade 
would be extended for three years, helping to maintain trade flows between the two countries, which 
takes on greater importan ce in the current situation,  given the impact of the COVID -19 pandemic.  
3.3.2.7   Investment Promotion and Protection Agreements (IPPAs)  
3.60.  Mexico has a network of 30 Inves tment Promotion and Protection Agreements (IPPAs) in force. 
However, the vast majority of these agreements were negotiated and signed before 2000. Given 
that, in the case of 25 of the 30 above -mentioned IPPAs,  the initial 10-year validity has come to an 
end4 and that one has been denounced (India), Mexico has embarked upon a policy of modernizing 
these agreements, reflecting the evolution of international investment law with state-of-the-art 
disciplines.  
3.61.  The efforts of Mexico's current administration have therefore focused on modernizing the  
IPPAs with the Republic of Korea5, China6, India7 and Switzerland8, with a view to ensuring a better 
balance between the need to provide protection and legal certainty for foreign investors and their 
investments and the obligation to ensure the Mexican State has enough flexibility to regulate in the 
public interest.  
3.3.2.8   Hong  Kong Special Administrative Region of the People's Republic of China  
3.62.  On 23 January 2020, Mexico and the Hong Kong Special Administrative Region of the People's 
Republic of China signed an IPPA. This Agreement was approved by the Senate of the Congress of 
the Union on 10 March 2021, and entered into force on 16 June 2021.  
 
4 The only exceptions are the IPPAs with Bahrain ; the United Arab Emirates ; Hong Kong,  China ; Kuwait 
and Türkiye.  
5 The IPPA with the Republic of Korea was signed on 14  November  2000 and en tered into force on 
6 July 2002.  
6 The IPPA with China was signed on 11  July 2008 and entered into force on 6  June 2009.  
7 The IPPA with India was signed on 21  May 2007 and entered into force on 23  February  2008. India 
notified Mexico of its intention to denounce the IPPA on 20  September  2018, which took effect on  
20 September  2019.  
8 This was the first IPPA concluded  by Mexico. It was signed on 10 July 1995 and entered into force on  
14 March  1996.  WT/TPR/G/429 • Mexico  
 
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  3.3.2.9   Prevention of investor -State disputes  
3.63.  In 2021, the Ministry of Econom ic Affairs  launched a comprehensive strategy for the 
prevention of investor -State disputes , based on the fundamental pr emise that these disputes can 
and should be prevented. To that end, the activities implemented by the Ministry of Econom ic Affairs  
are structured around three pillars:  
i. awareness -raising;  
ii. communication facilitation; and  
iii. permanent  coordination among authorit ies. 
3.64.  In with the light of  the foregoing , the Ministry of Econom ic Affairs  held the first prevention 
week from 12 to 16 July 2021 , aimed at raising awareness among government officials of the content 
of international investment agreements and warning of the  consequences of failing to comply with 
them. 
3.65.  In addition, a working group for the prevention of investment disputes was established under 
the framework of the National Foreign Investment Commission, with a view to raising awareness of, 
analysing and discussing possible disputes between foreign investors and the Mexican State arisin g 
from the actions of officials and authorities.  
4  TRADE POLICY  
4.1  Tariffs  
4.1.  During the period under review, no unilateral tariff reduction measures were implemented. 
However, in order to address rising prices, in May 2022, 73 food and other basic products that a re 
part of the basic food basket, including maize, beans, potatoes, rice, tuna, pork, chicken, beef, 
onions, maize flour, wheat flour and eggs, were temporarily exempted from import duties for one 
year, with the possibility of extending the measure for ano ther year.  
4.2.  In December 2020, the Mexican nomenclature was restructured by updating the Law on 
General Import and Export Taxes (LIGIE) and implementing the Sixth Amendment to the 
Harmonized System, thereby reducing the number of tariff lines included in the  LIGIE from more 
than 12,775 to 7,802. This restructuring did not change Mexico's tariffs.  
4.2  Trade facilitation  
4.3.  Since the last review, Mexico has implemented various trade and customs facilitation measures 
to make companies more competitive and help them to participate in international markets. These 
measures included establishing an electronic customs clearance system, which does not require the 
presentation of a physical document; updating the Single Window for Mexican Foreign Trade 
(VUCEM); and authorizing  various Federal Government departments and bodies involved in the fight 
against the pandemic (the Ministries of Health, National Defence and the Navy, the Institute of 
Health for Well -being, the Mexican Social Security Institute and the Social Security an d Services 
Institute for Government Workers) to receive goods without having to pay foreign trade taxes.  
4.4.  Moreover, in 2021, the National  Trade Facilitation Committee was established to facilitate 
coordination among the Federal Government departments and bo dies and autonomous constitutional 
entities that, within their different spheres of competence, participate in the regulation of foreign 
trade-related programmes.  
4.5.  Furthermore, in December 2021, to attract FDI to Mexico, the Ministry of Econom ic Affairs  
created the Invest in Mexico platform, which aims to provide investors with executive content and 
strategic statistical information, specialized advice and links with institutions responsible for the 
necessary procedures for investment, in addition to serving  as direct contact with the agencies 
responsible for promoting and attracting investment.  WT/TPR/G/429 • Mexico  
 
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  4.6.  In addition, the Ministry of Econo mic Affairs y is working on the design of investment facilitation 
tools in three areas:  
(1) Streamlining, together with the National Commission on Regulatory Improvement, and 
the digitization of procedures  
a. Identification of processes and procedures to be simplified  
(2) Dual training  
a. Creation of joint dual training plans  
(3) Linking foreign companies with strategic federal and local sta keholders to facilitate their 
establishment in the country  
 
4.3  Technical regulations and standards  
4.7.  The Decree promulgating the Law on Quality Infrastructure (LIC) and repealing the Federal  Law 
on Metrology and Standardization (LFMN) was published on 1 July 20 20. 
4.8.  The objectives of the LFMN included establishing the General System of Units of Measurement, 
specifying basic metrological concepts, establishing requirements for the manufacture, importation, 
repair, sale, verification and use of measuring instruments  and measurement standards, and making 
measurement mandatory in commercial transactions.  
4.9.  The purpose of the LIC is to establish and develop the bases of industrial policy within the scope 
of the National Quality Infrastructure System through standardizatio n, harmonization, accreditation, 
conformity assessment and metrology, promoting economic development and quality in the 
production of goods and services in order to expand productive capacity, continuously improve value 
chains, foster international trade a nd protect legitimate public interest objectives.  
4.10.  The objectives of the LIC include promoting the involvement of the public, social and private 
sectors in the drafting and enforcement of Mexican Official Standards and other standards; 
establishing mechanis ms for coordination and collaboration among the standardization authorities, 
the National Metrology Centre, designated metrology institutes, accreditation bodies and conformity 
assessment bodies, local and municipal bodies, and the social and private secto rs, in the areas of 
standardization, conformity assessment and metrology; fostering technological innovation in respect 
of goods, products, processes and services, with a view to improving the quality of people's lives 
throughout Mexico; and encouraging th e creation of enhanced physical and digital infrastructure for 
the proper implementation of conformity assessment activities.  
4.11.  In this sense, the LIC meets new international requirements by being aligned with one of the 
Sustainable Development Goals set out  in the 2030 Agenda for Sustainable Development, and is 
therefore in line with the recommendations and best practices of the United Nations system in terms 
of inclusive and sustainable industrial development.  
4.12.  Thus, the creation of a new quality infrastruct ure regime contributes to the Government's 
policy objectives in areas such as industrial development, competitiveness in global value chains and 
international markets, the sustainable use of natural resources, food security, health, the 
environment and cli mate change.  
4.13.  As a result, the National Quality Infrastructure System covers essential aspects such as the 
strengthening of institutions and the development of productive sectors to be aligned with the trends 
and best practices in standardization, harmoniza tion, conformity assessment and metrology in the 
main international organizations in these areas, as proposed by the International Network on Quality 
Infrastructure, which brings together leading bodies such as the International Bureau of Weights 
and Measu res, the International Accreditation Forum, the International Electrotechnical Commission, 
the International Laboratory Accreditation Cooperation, the International Organization for 
Standardization, the International Telecommunication Union, the Internatio nal Organization of Legal 
Metrology, the United Nations Economic Commission for Europe, the United Nations Industrial 
Development Organization, the World Bank Group and the WTO.  WT/TPR/G/429 • Mexico  
 
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  4.4  Government procurement  
4.14.  The Federal Government's main objectives are to ensure that public spending is carried out 
under the best conditions for the State and that practices that impede the efficient allocation of 
public resources are eliminated. Accordingly, powers and functions related to the definition, planning 
and conduct of pub lic procurement processes, functions that until 2018 were the responsibility of 
the Ministry of Public Administration, were transferred to the Office of the Chief Administrative Officer 
of the Ministry of Finance and Public Credit (SHCP).  
4.15.  In 2019, the Gove rnment of Mexico signed an agreement with the United  Nations  Office for 
Project Services for the latter to carry out public procurement processes for medicines and wound 
dressing materials until 2024, which has resulted in savings of MXN 11.8 billion, equi valent to 20% 
of the draft budget for 2021.  
4.16.  Subsequently, in 2020, given the imperative need for medicines to deal with the pandemic, 
the Ministries of Health and of National Defence and the Navy, as well as the Institute of Health for 
Well-being, the Soci al Security and Social Services Institute for State Workers and the Mexican 
Social Security Institute were authorized to carry out public procurement processes for medicines, 
medical equipment, diagnostic agents, reagents, surgical and wound dressing mater ials and hygiene 
products, along with all types of goods and services that may be necessary to cope with the health 
emergency.  
4.17.  Steps have also been taken to promote framework contracts based on agreements entered 
into by a department or body with one or more potential suppliers, establishing the technical 
specifications and conditions that will govern the acquisition or leasing of  services or public works 
contracts. These strategies are focused on an economy of scale and are implemented through the 
issuance of administrative regulations aligned with applicable laws and regulations.  
4.18.  In addition, in 2021, the Office of the Chief Admi nistrative Officer of the SHCP issued 
guidelines to coordinate consolidated procurement procedures for the acquisition or leasing of 
movable property or the provision of services and will determine the contracts that must be secured 
by the Federal Governme nt. 
4.5  Trade in services  
4.5.1   Financial services  
4.19.  One of the major changes in the financial services sector was the enactment of the Law 
Regulating Financial Technology Institutions (known as the Fintech Law), published on 9  March  2018 
in the Official Journal of th e Federation.  
4.20.  This is the first legislation of its kind in Latin America that seeks to formalize financial services 
provided through mass technology or innovative platforms.  
4.21.  The Law seeks to provide users of financial service platforms with legal certainty  regarding 
the type of transactions carried out through them, which it identifies and classifies as: 
crowdfunding  or collective financing institutions, and electronic payment institutions.  
4.22.  Moreover, the Fintech Law established the operational basis for ope n finance, a scheme that 
will allow the sharing of structured data through standardized application programming interfaces 
(APIs) among the various entities of the financial system, together with a testing environment 
regulated by the National Banking and Securities Commission (CNBV) to promote financial 
innovation (commonly referred to as a regulatory sandbox).  
4.23.  In addition, in 2017, Banxico issued the Rules of the Interbank Electronic Payment System as 
an innovative way of providing payment services and st rengthening the security of the financial 
system through the growing use of electronic means of payment. The Rules were amended in 2019 
to make the payment system more efficient for the general public. This led to the development and 
implementation of the Cobro Digital  electronic platform. This scheme allows users to transfer and 
receive funds through a mobile device or an Internet platform that is available 24 hours a day, 
365 days a year.  WT/TPR/G/429 • Mexico  
 
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  4.24.  The following measures were taken to strengthen financial inclusion : 
• The National Financial Inclusion Policy  (March 2020), which seeks to promote access 
to, and the efficient use of, the financial system, the development of economic and 
financial skills, and the empowerment of users of financial products and services.  
• Inclusion of minors.  In March 2020, a reform was published in the Official Journal of the 
Federation enabling adolescents aged 15 years and over to open bank accounts and have 
access to the funds deposited therein from government programmes, wages and salarie s 
exclusively by electronic means, without the involvement of representatives.  
• Women.  In July 2021, the methodology for calculating women's loan loss reserves was 
modified. This led to the creation of incentives to reduce credit rates for women, thereby 
promoting their inclusion in the financial system.  
• In October 2021, steps were taken to facilitate access to training and financial instruments 
for indigenous and Afro -Mexican populations  and for populations in highly and very 
highly marginalized areas.  
4.25.  The 2018 amendment to the Law Regulating Financial Groups led to the establishment of 
bodies such as:  
• The National Financial Inclusion Council, a consultative, advisory and coordinating body in 
charge of planning, implementing, executing and monitoring a natio nal financial inclusion 
policy, involving the development of knowledge for the efficient use of the financial 
system; technological innovations; the development of financial infrastructure in 
underserved areas; greater access to formal financial services f or excluded populations; 
greater confidence in the formal financial system through protection mechanisms; and the 
collection of data and measurements.  
• The Financial Education Committee, a coordinating body for financial education efforts, 
actions and progr ammes in charge of defining financial education policy priorities and 
guidelines; preparing the national financial education strategy; and planning national 
financial education week activities and measurement methodologies, among other duties.  
4.26.  In March 202 2, the Inter -Institutional Committee for Gender Equality in Financial Institutions 
was established to promote greater inclusion of women in the financial sector and in the Mexican 
economy, which will help to boost financial inclusion.  
4.27.  In order to expand th e financial infrastructure and encourage an increase in the number of 
financial service distribution points, emphasis has been placed on non -bank service providers as a 
flexible, high -penetration and low -cost alternative for financial service providers, to  the benefit of 
end users. In this regard, the process of authorizing correspondent entities was simplified and 
streamlined for financial institutions and the administrators of such entities.  
4.5.2   Banks  
4.28.  Between March and April 2020, in order to mitigate the adv erse effects of the COVID -19 
pandemic on the functioning of financial markets, the authorities implemented a series of measures 
to stabilize these markets and promote their orderly conduct, strengthen credit channels and provide 
liquidity for the healthy d evelopment of the financial system.  
4.29.  These measures are listed below:  
a. Liquidity provision measures  
• A reduction of MXN 50 billion in the monetary regulation deposit that commercial and 
development banks must maintain on a mandatory and permanent basis with Banxico.  
• Better conditions of access to the Ordinary Additional Liquidity Facility, including by 
temporarily extending access to development banks and widening the eligibility of debt 
securities in order to make the Facility more accessible.  WT/TPR/G/429 • Mexico  
 
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  • Increased liquidity during interbank trading hours.  
• A repurchase agreement window for government securities for a  total amount of up to 
MXN 150 billion.  
• A window for the temporary swap of debt securities for a total amount of up to 
MXN 50 billion.  
• A repurchase facility for corporate securities for a total amount of up to MXN  100 billion.  
b. Measures to promote the orderly conduct of financial markets  
• Strengthening of the Market Makers Programme in collaboration with the SHCP.  
• A government securities swap programme with banking institutions for a total amount of 
up to MXN  100 billion.  
• Increasing the size of the peso -settled foreign exchange hedge programme from 
USD 20 billion to USD 30 billion, pursuant to the agreement of the Foreign Exchange 
Commission.  
• Foreign exchange hedges settled by differences in dollars with counterparties not 
domiciled in Mexico, pursuant to  the agreement of the Foreign Exchange Commission.  
• Dollar loan auctions, financed by the short -term foreign exchange mechanism using the 
"swap" line with the Federal Reserve System of the United States for USD  60 billion, 
pursuant to the agreement of the F oreign Exchange Commission.  
c. Measures to strengthen credit channels  
• The provision of resources to banking institutions to channel credit to MSMEs and 
individuals affected by the pandemic through the release of resources associated with the 
monetary regulati on deposit or repurchase agreements for a total amount of up to 
MXN 250 billion; and  
• Financing facilities for banking institutions, secured with corporate loans and mortgages, 
in order to grant loans to MSMEs for a total amount of up to MXN 100 billion.  
4.30.  Regarding the use of these  measures, including maturities and refinancing operations, the 
total amounts allocated were MXN 692.2 billion and USD 22.7 billion, respectively. It should be noted 
that the additional measures expired on 30 September 2021, with th e exception of those that remain 
at the disposal of the Bank of Mexico indefinitely. Moreover, the term of the swap line with the 
US Federal Reserve System expired  on 31 December 2021.9 
4.31.  In addition, other financial authorities, such as the CNBV and the Na tional Insurance and 
Sureties Commission, implemented measures to support the financial system:  
a. In March 202 0, special accounting criteria applicable to credit institutions and regulated 
multipurpose financial companies were issued in respect of consumer, housing and 
commercial loans for borrowers whose source of payment was affected by the COVID -19 
emergency. This facilitated the implementation of support programmes for these 
borrowers, since loans renewed or restructured under these programmes were not 
considered past -due loans. This support consisted of partial or total deferral of principal 
and/or interest payments for up to four months, with the possibility of a two -month 
extension.  
b. In September 2020, in view of the end of the special accounting criteri a, regulatory 
changes were announced to promote the restructuring of commercial bank loans to 
households and companies that could face difficulties in paying their debts. This new 
facility, which is voluntary for banks, was aimed at current loans granted b efore 
31 March  2020, with restructuring to be completed before 31 January 2021.  
 
9 For more  details on the additional liquidity and credit measures implemented by the Bank of Mexico 
during the COVID -19 pandemic, please visit the specialized microsite at: 
https://www.banxico.org.mx/portales -de-usuarios/medidas -adicionales -de-liquidez -y-credito/sano -desarrollo -
mercados -fi.html . WT/TPR/G/429 • Mexico  
 
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  c. Special accounting criteria established by the CNBV for:  
i. Financial institutions, consisting of partial or total deferral of principal and/or interest 
payments for up to four mo nths, with the possibility of a two -month extension, with 
respect to the total amount due on loans to customers whose source of payment has 
been affected by the pandemic;  
ii. Sociedades financieras populares  (Sofipos) (popular financial entities) and savings and 
loan cooperative societies, applicable to consumer, housing and commercial loans and 
consisting of partial or total deferral of principal and/or interest payments for up to 
six months, and up to 18 months for rural sector loans;  
iii. The voluntary s uspension of the dividend payments of banking institutions and 
insurance companies for fiscal years 2019 and 2020, with the intention of keeping the 
profits generated as part of the capital, thus strengthening the solvency of financial 
institutions; and  
iv. A regulatory facility to enable commercial banks to use the capital conservation 
supplement to continue granting loans to natural persons and companies without 
affecting their minimum liquidity.  
4.32.  In 2020, the CNBV issued regulatory facilities for banks' remot e onboarding, for the remote 
opening of accounts and granting of loans to natural persons and companies. This will allow more 
people to have an account, especially those who do not live near a branch.  
4.33.  In addition, the CNBV has published regulatory amendmen ts to increase the number of 
correspondent banks in the country through a simplified and more efficient authorization process 
that incorporates a risk -based approach. This measure is intended to boost access to financial 
services for the most vulnerable po pulations.  
4.5.3   Securities market  
4.34.  The CNBV is still the main regulator of the Mexican securities market, and the stock exchanges 
are the primary channel through which securities market transactions are conducted in Mexico.  
4.35.  The Mexican Stock Exchange (BMV) remai ns a public company that operates under a 
concession from the SHCP, in accordance with the regulations contained in the Securities Market 
Law. 
4.36.  In addition to the BMV, in July 2018, the Institutional Stock Exchange (BIVA) began 
operations. Companies can list their debt securities on one of the two exchanges and their securities 
will be listed on both.  
4.37.  Each of the stock exchanges operates with different financial indicators: the BMV with the 
Price and Quotation Index (S&P/BMV/IPC) , and the BI VA with the FTSE BIVA, on the understanding 
that the latter is theoretical, since the issuers that comprise it are not listed on the BIVA.  
4.38.  The authorization for the new stock exchange to start operations has generated greater 
competition among companies an d increased their participation in the Mexican stock market.  
4.5.4   Telecommunication services  
4.39.  In order to harness the potential of information and communications technologies (ICT), 
including broadband and Internet services that contribute to social, cultural an d economic 
development, in September 2021, the National Digital Strategy 2021 –24 (EDN) was established 
within the framework of the National Development Plan 2019 –24 (PND).  WT/TPR/G/429 • Mexico  
 
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  4.40.  The EDN describes the series of measures that the Government of Mexico is undertakin g to 
enable the efficient, democratic and inclusive use and development of ICT through two main areas 
of action:  
(1) The Federal Public Administration's Digital Policy  to transform the Federal Public 
Administration through the use of ICT and actions aimed at improving government services and 
making them more transparent, combating corruption, fostering technological collaboration, digital 
government and information security, and promoting technological autonomy and independence, as 
well as substantive engag ement. To this end, six specific objectives have been established:  
i. Improve and harmonize the regulatory framework of the Federal Public 
Administration's digital policy through the comprehensive and simplified coordination 
of technological guidelines for th e country that make it possible to achieve technical 
and economic efficiency.  
ii. Standardize ICT procurement through transparent, simple and effective actions that 
generate savings and maximize the responsible use of public resources.  
iii. Promote technological au tonomy and independence to establish the State's steering 
capacity to define its ICT.  
iv. Maximize the use of computer applications and infrastructure through information 
exchange and technological collaboration.  
v. Promote a culture of information security that generates certainty and trust among 
users of institutional and governmental technological services.  
vi. Promote the continuity and improvement of projects and programmes through the 
integration of institutionally available structured information.  
(2) A Digital Social Policy  to increase Internet coverage throughout the country, combat 
marginalization and connect the poorest and most remote areas, thus facilitating their participation 
in productive activities, by strengthening the interconnection of  networks and guaranteeing 
connectivity and access to online communication, cultural and educational services. To this end, 
actions are being coordinated to roll out the National Fibre -Optic Network, provide Internet for all 
and develop digital services fo r social programmes, with three specific objectives:  
i. Promote the integration of publicly -owned fibre optic cables to transmit signals and 
narrow the digital divide in the country.  
ii. Promote Internet roll -out in all unconnected areas to achieve universal Inte rnet 
coverage for the population, based on the Social Coverage Programme, in order to 
identify rural and urban locations that lack telecommunications services and the 
priority areas that require broadband and voice services.  
iii. Improve the quality of social p rogrammes using technological solutions that facilitate 
and support actions to promote the well -being of the population.  
4.41.  The EDN seeks to guarantee democratic and universal access to digital resources, 
infrastructure and to open, standardized and secure go vernment services, and to move towards 
technological autonomy with the aim of producing home -grown technical solutions and harnessing 
technical talent.  WT/TPR/G/429 • Mexico  
 
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  4.5.4.1   Promoting competition and expanding services  
4.42.  In order to promote  the expansion of telecommunications and  broadcasting services in an 
environment of effective competition, the Federal Telecommunications Institute (IFT) has carried 
out the following actions, among others:  
i. Asymmetric regulatory measures for dominant economic operators in 
telecommunications and broadcasting, which are reviewed every two years to evaluate 
their effectiveness. In this regard, it is important to note the issuance of the first 
(2017) and second (2020) biennial resolutions on asymmetric measures, and the 
implementation of the function al separation of the incumbent fixed service operator in 
Mexico.  
ii. Competitive tendering processes for parts of the radio spectrum for broadcasting 
services (two for AM and FM radio services and two for digital terrestrial television 
services) and telecommun ications services (five frequency band tenders for different 
services, including fixed and mobile wireless access).  
iii. Direct allocation of new spectrum concessions for public and social use, including 
community and indigenous concessions.  
4.43.  Moreover, in terms of general regulations, attention is drawn to the issuance of the net 
neutrality guidelines (2021). In addition, the IFT set up the Technical Committee on 5G Deployment 
in Mexico (5G Committee), a consultative and non -binding technical support body whose o bjective 
is to create a forum for interaction between the IFT, the industry sector as a whole, academia, public 
entities and any other interested parties, to discuss current and future 5G needs, strategies, 
forecasts and studies, with the purpose of develo ping contributions that will serve as input for the 
IFT to promote efficient 5G implementation in Mexico and thus move towards the development and 
deployment of 5G in the country.  
4.44.  The 5G Committee, through six working groups, is particularly focused on ana lysing issues 
related to: (i)  the timely allocation of spectrum for 5G; (ii)  the deployment and availability of 
5G infrastructure; (iii)  5G applications and services; (iv)  regulatory aspects of 5G; (v)  cybersecurity 
for 5G; and (vi)  5G testing and trials.  
4.45.  In addition to the above, the regulatory framework for conformity assessment applicable to 
products, equipment, devices, apparatus and infrastructure for telecommunications or broadcasting 
that may be connected to a telecommunications network and/or make u se of the radio spectrum, 
and for homologation, has been consolidated, which provides legal certainty to those involved in 
these processes, through, among others, the following regulatory instruments:  
• The telecommunications and broadcasting conformity asse ssment procedure 
(25 February  2020) and its amendment (27  December  2021).  
• The guidelines for the approval of products, equipment, devices  or apparatus intended for 
telecommunications or broadcasting (29  December  2021).  
4.5.5   Transport services  
4.46.  The Programme for the Development of the Isthmus of Tehuantepec was established in 2018 
to support the development of the Isthmus with a comprehensive, sustainable and inclusive vision, 
fostering economic, productive and cultural growth, mainly through the  integration of the logistics 
platform known as the Interoceanic Corridor.  
4.47.  The Programme lays the foundations for the economic growth of the region and the well -being 
of the population through public investment in transportation infrastructure, 10 industri al parks and 
by attracting private investment.  
4.48.  The transportation and energy infrastructure projects that make up the logistics platform are: 
the rehabilitation of the Isthmus of Tehuantepec railroad track and stations, the modernization of 
the ports of Co atzacoalcos and Salina Cruz and the construction of container terminals at both ports, WT/TPR/G/429 • Mexico  
 
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  the improvement of highway and rural road infrastructure, and the construction of a gas pipeline to 
cover the demand of the population and the 10 industrial parks.  
4.49.  Furth ermore, a fibre -optic line will be laid along the Isthmus to increase connectivity and 
telecommunications services throughout the 79 municipalities that make up the Isthmus and the 
industrial parks, improve logistical operations between ports and the railr oad, and provide free 
Internet services in public spaces.  
4.50.  The Interoceanic Corridor takes advantage of the geostrategic position of the Isthmus of 
Tehuantepec to offer a logistical and energy alternative that enables it to compete in world markets 
for the mobilization of goods through the combined use of various means of transportation.  
4.51.  The commercial strategy of the Isthmus focuses on the integration of the transportation 
infrastructure (ports, railroad) and the design and implementation of an efficient lo gistics service that 
helps to reduce logistics costs in the transit of goods, in addition to promoting efforts to attract private 
investment through the identification of productive vocations in 10 industrial parks with a vision of 
self-sustainability, res pect for the environment and integration of the region's many cultures.  
4.5.6   Tourism  
4.52.  Tourism continues to be one of the mainstays of the Mexican economy. In 2021, it accounted 
for 7.1% of GDP, employed 4.1 million people and USD  19.796 billion in foreign exchan ge earnings. 
It was one of the sectors most affected by the economic paralysis caused by the COVID -19 pandemic. 
Despite this, Mexico welcomed almost 24.3 million foreign visitors in 2020 and 31.9  million 
international tourists in 2021, showing a rapid reco very and positioning itself as the world's third 
most popular tourist destination in 2020 and second most popular in 2021.  
4.53.  In addition to being constantly ready to face day -to-day challenges, Mexican tourism must 
undergo a complete transformation to enable  it to understand the sector and its objectives in a 
different way, as a tool for social reconciliation that is capable of contributing to the eradication of 
poverty and the creation of a fairer and more egalitarian country.  
4.54.  This is why Mexico established the Sectoral Programme for Tourism 2020 –24, which sets out 
four priority objectives: to ensure a social approach and respect for human rights in the country's 
tourism activities; to promote the balanced development of Mexico's tourism destinations; to 
strengthen the diversification of tourism markets at the national and international levels; and to 
promote sustainable tourism in Mexico.  
4.55.  The Ministry of Tourism, in coordination with the Ministry of Health, developed the following 
instruments to reopen the to urism sector in the face of the COVID -19 pandemic:  
(1) A care protocol for both Mexicans and foreigners staying in accommodation in Mexico 
during the mandatory COVID -19 quarantine period;  
(2) An update to the care protocol for persons in accommodation and restaura nts during 
the mandatory COVID -19 quarantine period; and  
(3) National Guidelines for the Reopening of the Tourism Sector through the Semáforo de 
riesgo epidemiológico  (epidemiological risk traffic light), a monitoring system to 
regulate the use of public space s in accordance with the risk of COVID -19 infection.  
4.6  Intellectual property  
4.56.  The main change in intellectual property matters with respect to the previous review occurred 
with the issuance of the Federal Law on Industrial Property Protection (LFPPI), which e ntered into 
force on 5 November 2021 and repealed the Industrial Property Law.  
4.57.  The provisions of the LFPPI are in a logical order and sequence; the Law clearly specifies rights 
and requirements; and facilitates user understanding with the aim of simplifyin g procedures and 
processes for the due protection and recognition of the various intellectual property rights. It also 
incorporates international best practices. Moreover, it provides for the use of electronic means and 
promotes transparency. This is all i n the spirit of administrative simplification and strengthening the 
rule of law.  WT/TPR/G/429 • Mexico  
 
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  4.58.  In addition, the Federal Law on Copyright (LFDA) and the Federal Criminal Code (CPF) were 
amended to include provisions that extend copyright protection and related rights to digital media. 
These reforms constitute a state -of-the-art package of innovative provisions that provide 
comprehensive protection for intellectual property rights.  
4.59.  This new legal framework brings the Mexican Institute of Intellectual Property (IMPI) closer  
to the people to facilitate the protection of their trademarks and inventions, and thus promote 
inclusive economic development and innovation, facilitating procedures through electronic means. 
The Institute will have new powers and more tools to protect c reators' intellectual property rights 
and apply effective sanctions to those who violate them.  
4.60.  Through the LFPPI and the amendments to the LFDA and the CPF, Mexico is complying with 
its industrial property commitments under the T -MEC and the CPTPP. This ne w law puts Mexico at 
the forefront and helps to meet the challenges of innovation.  
5  ENHANCE THE INCLUSION AND PARTICIPATION OF WOMEN AND SMES IN MEXICO'S 
ECONOMY AND INTERNATIONAL TRADE  
5.1  Mexico's actions to promote greater participation of women in the Mexican economy 
and international trade  
5.1.  Mexico, mindful of the need to achieve greater inclusion of women in the economy and in the 
labour market, has promoted an agenda geared towards this objective and has supported the 
following activities:  
• Inclusive Trade Action Group (ITAG) and Global Trade and Gender Arrangement 
(GTAGA)  
5.2.  In October 2021, at the Meeting of the OECD Council at Ministerial Level, a ceremony was held 
to mark Mexico's affiliation to the ITAG and the GTAGA. The ITAG seeks to make trade pol icies 
increasingly inclusive and ensure that the benefits of trade and investment are shared more 
equitably. A key initiative in the Group's work was the establishment of the GTAGA, which aims to 
improve women's access to economic opportunities by helping to remove barriers to their 
participation in trade.  
• Pacific Alliance  
5.3.  Mexico participates actively in the Gender Technical Group, which shares best practices, 
strategies and priority activities of Pacific Alliance countries to boost the export potential of women 
entrepreneurs and promote their integration in international markets.  
5.4.  During the XV Summit of the Pacific Alliance in 2020, the Presidents of the Alliance's member 
countries signed the Presidential Statement of the Pacific Alliance on Gender Equality , which is 
accompanied by a road map identifying priority areas for action and goals in terms of economic 
empowerment to guide the  work of the Pacific Alliance in the design, implementation and evaluation 
of public policies and initiatives to promote the e conomic and social development of women in the 
region.  
5.5.  Mexico, having assumed the pro tempore presidency of the Alliance in 2022, has among its 
main objectives the mainstreaming of the gender perspective in the more than 25 technical bodies 
that form part of the mechanism.  
• World Trade Organization  
5.6.  Mexico participates actively in and continues to support the initiative on trade and women's 
economic empowerment that emerged from Buenos Aires in 2017. It is a member of the 
WTO Informal Working Group on Trade a nd Gender, and participated in the "Friends of Gender" 
small drafting group established by the Group.  WT/TPR/G/429 • Mexico  
 
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  • International Trade Centre  
5.7.  In October 2021, Mexico joined the International Trade Centre's SheTrades Outlook initiative, 
a global platform that empowers w omen and promotes their participation in business to create value 
for their products and their communities by establishing a diagnosis of the situation of women in the 
national economy.  
• Domestic measures  
• Collaboration with the Embassy of the United Kingdom  in Mexico on the development 
of a methodology and guide to measure the wage gap in Mexico.  
• Collaboration between the Ministry of Econom ic Affairs , the Ministry of Tourism, the 
World  Economic Forum and the Inter -American Development Bank to implement a 
30-month action plan to reduce the economic gender gap.  
• For three consecutive years, the Ministry of Econom ic Affairs , in collaboration with 
other federal entities such as the Ministry of Culture, the SHCP and the Ministry of 
Foreign Affairs, the National Wom en's Institute, the Inter -American Development 
Bank, ConnectAmericas, the Mexican Association of Women Heads of Business, the 
Mexican Federation of LGBT+ Entrepreneurs, and the Mexican chapter of the 
Organization of Women in International Trade (OWIT), has  organized MujerExportaMx , 
a virtual business round table for MSMEs in a position to export, led by Mexican 
businesswomen, where business opportunities stemming from trade agreements such 
as the T -MEC, the CPTPP and the Free Trade Agreement between Mexico and the 
European Union are presented.  
• Financial Support Programme for Family Microenterprises (so -called crédito s a la 
palabra ) providing MXN 25,000 to businesses with up to 10 employees, including 
women -led businesses. In 2021, a total of 33,854 loans wer e granted.  
• In September 2021, the Ministry of Econom ic Affairs  signed a collaboration agreement 
with Mastercard with the objective of promoting initiatives that have an impact on the 
digitalization of payments and on financial inclusion with a gender focus . The 
agreement will remain in force until 2024.  
• The guiding principles of the Ministry of Agriculture's programmes include gender 
equality and support for the indigenous population and for small -scale producers, 
among whom the percentage of women benefici aries has been increasing every year.  
5.2  Micro, small and medium -sized enterprises in Mexico  
5.8.  MSMEs play an important role in Mexico's economy. According to the most recent economic 
census, conducted in 2019, 98.8% of the country's establishments are MSMEs. Th ey employ 67.9% 
of the workforce and account for 45.3% of the gross value added as measured by the census.  
5.9.  The 2002 Law on the Development of the Competitiveness of Micro, Small and Medium -Sized 
Enterprises establishes that the authority in charge of its i mplementation is the Ministry of 
Econom ic Affairs , which, in agreement with the SHCP, defines such enterprises as follows:  
Table 5.1 MSMEs by number of employees  
 Sector  
Size Industry  Trade  Services  
Micro  0-10 0-10 0-10 
Small  11-50 11-30 11-50 
Medium -sized 51-250 31-100 51-100 WT/TPR/G/429 • Mexico  
 
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  5.10.  Within the Ministry of Econom ic Affairs , the Productive Development Unit is in charge of  
reviewing, proposing, promoting, designing, coordinating and executing public policy to support 
MSMEs, with a view to reducing inequality between people and regions. Its aim is to revive the 
Mexican economy and make it more inclusive, diverse and innovati ve by stimulating strategic 
economic sectors for domestic and foreign markets.  
5.11.  The Unit has taken various steps to support and train Mexican MSMEs with a view to their 
greater and better integration into the digital economy and international markets:  
• Development of business skills. Free virtual workshops and webinars, which have been 
viewed live more than 1,500 times and replayed 38,000 times, aimed at developing and 
strengthening business and digital skills in order to boost the competitiveness of MSM Es. 
• Digital tools.  The MiPyMEs MX  platform at https://mipymes.economia.gob.mx  offers tools, 
valuable content, events and programmes aimed at developing and strengthening the 
business capabilities and skil ls of entrepreneurs and MSMEs in order to increase their 
participation in national and international markets.  
5.12.  In addition, the Global Economic Intelligence Unit (UIEG) was created under the current 
administration to design strategies to promote foreign tra de and attract FDI. This administrative Unit 
has also developed free public platforms for SMEs to consult, including:  
• ComerciaMX : This platform enables Mexican companies to expand their business to 
international markets. It allows registered companies to interact with potential customers, 
suppliers, partners and investors from the Americas and other regions of the world.  
• ExportaMx : Search engine for export opportunities by product or country of interest.  
• DataMéxico : Tool for integrating, visua lizing, distributing and analysing data from Mexico's 
federal and local governments, in addition to generating economic complexity maps by 
activity for each sphere of government. Companies can identify optimal activities by 
region, expand their productive capacities and detect areas for innovation, sectors to 
increase exports around the world and spaces to diversify foreign investment in 
the country.  
5.13.  Moreover, since 2020, as a consequence of the COVID -19 pandemic, the Ministry of Econom ic 
Affairs , through t he UIEG, has promoted the development and organization of virtual business round 
tables to promote the foreign trade of Mexican SMEs around the world in collaboration with strategic 
partners.  
5.14.  Mexico remains committed to supporting the participation of MSME s in international trade, 
improving their capabilities and promoting their economic growth. It also recognizes the importance 
of creating a regulatory environment conducive to competitiveness and growth.  
5.15.  Within the WTO framework, Mexico has participated ac tively in the Informal Working Group 
on MSMEs since its launch in 2017, supporting and promoting activities and work to enhance the 
participation of MSMEs in world trade.  
6  CONCLUSIONS  
6.1.  This Seventh Trade Policy Review of Mexico is taking place in a complicat ed economic 
environment, characterized by an atmosphere of great uncertainty in international markets, with 
significant challenges to the multilateral order and one of the worst health crises of recent times.  
6.2.  Despite this, Mexico has reaffirmed its commitm ent and redoubled its efforts to ensure that the 
multilateral trading system is solid, functional and responsive to the realities of trade  today. 
Furthermore, Mexico has pursued its policy of integration into international markets through the 
negotiation o f new agreements and the modernization of existing ones.  WT/TPR/G/429 • Mexico  
 
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  6.3.  In addition, the responsible implementation of measures to address the COVID -19 pandemic 
made it possible to safeguard public finances and debt while supporting the financial system and the 
recovery of SMEs through direct support measures.  
6.4.  Mexico has continued to implement domestic reforms to make its governance more efficient 
and appropriate to the circumstances required by current realities.  
6.5.  Although the future challenges facing the multilateral tra ding system are great, largely because 
of the uncertainty generated by the current geopolitical situation, Mexico is convinced of the 
importance of trade as a vital element in the functioning of the international economy. Mexico 
therefore reiterates its fi rm commitment to continue working to maintain channels for dialogue that 
will make it possible to build the consensus needed to keep the Organization at the heart of 
global  governance.  
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