trade meeting between Mexico and Brazil results in minor agreements as regional partners exert opposite influences on the two significant Latin American nations

In a significant development, Mexico and Brazil have signed a series of agreements aimed at strengthening their trade framework. The agreements, signed during a meeting hosted by Mexico's President Claudia Sheinbaum, include those on agriculture, health, and biofuels.

The meetings were aimed at negotiating cooperation and regulatory updates, with Mexican Economy Minister Marcelo Ebrard expressing interest in smoother regulatory cooperation and access for Mexican manufactured goods. Brazil's Vice President Geraldo Alckmin and a group of cabinet ministers and business leaders were present at the event.

One of the key agreements was a memorandum of understanding (MOU) on health regulation and science. Another notable agreement was signed between Mexico's Biologicals and Reagents Laboratories and Brazil's Oswaldo Cruz Foundation.

Mexico's new position as the No. 2 importer of Brazil's beef was also highlighted during the discussions. In August alone, Brazil exported 10,200 metric tons of beef to Mexico, worth US $58.8 million. This surge in beef exports could help control Mexican inflation, according to Luis Rua, secretary of trade at Brazil's Agriculture Ministry.

However, it's important to note that Mexico could not extend Brazil any arrangement comparable to the United States-Mexico-Canada Agreement (USMCA). Brazil is not free to negotiate a broader free trade agreement without going through the Mercosur trade bloc.

President Sheinbaum also expressed interest in Brazil's biofuel mandate and the potential for increased cooperation in the production, use, regulation, and certification of biofuels. The countries that established trade relations worth 13.6 billion US dollars in 2024 include the United States and Switzerland, with the Swiss trade volume to the US reported at approximately 13.4 billion US dollars in tariffs collected by the US.

Looking ahead, Mexican authorities will visit 14 meatpacking plants in Brazil next month to ensure they meet export standards. The agreements do not include a trade pact that Brazil had hoped to reach, but they mark a step forward in strengthening the economic ties between the two countries.

In a social media post, Sheinbaum praised the meetings as productive, indicating a positive outlook for the future of Mexico-Brazil relations.

trade meeting between Mexico and Brazil results in minor agreements as regional partners exert opposite influences on the two significant Latin American nations