LatinNews Daily - 26 June 2024

*Mexico’s economy ministry (SE) has announced the finalisation of negotiations to modernise the free trade agreement (FTA) between Mexico and Chile. In a joint statement, the governments said the successful conclusion of negotiations marked the 25^th anniversary of the entry into force of the agreement. The modernised deal incorporates two new chapters: one on gender and trade and another on micro-, small-, and medium-sized businesses (MSMEs). Mexico’s Economy Minister Raquel Buenrostro stressed that the modernised deal “brings us closer to a more inclusive policy that vindicates and strengthens the role of women and micro-, small- and medium-sized enterprises in the economy”. On social media, Chile’s undersecretary of international economic relations, Claudia Sanhueza, stated that: “With Mexico, we share the objective of democratising trade and allowing more actors to benefit from commercial exchange. We are pleased to close this negotiation in a short period of time.” Trade between Mexico and Chile totalled US$3.4bn in 2023, according to the SE, with an average annual growth of 3.8% since 1998.