Brazil and Mexico to review trade and investment agreements

The Brazilian vice-president and MDIC minister Geraldo Alckmin signed a joint document with Mexican president Claudia Sheinbaum initiating a 12-month process to review and expand trade and investment agreements between Brazil and Mexico.

• Main action: The joint declaration launches a formal review and update of existing trade and investment agreements, with a work plan to increase economic complementarity to be concluded by July 2026; current bilateral trade reached US$ 13.6 billion in 2024, and the ACE-53 currently covers ~12% of bilateral flows, prompting discussions to expand coverage.
• Additional agreements and signatories: Fiocruz and the Mexican government signed cooperation on mRNA vaccine research and production (signed by Geraldo Alckmin, Mexican Health Secretary David Stalnikowitz, and Fiocruz Vice-President Priscila Ferraz Soares); Anvisa and COFEPRIS signed a memorandum covering medicines, medical devices, cosmetics, foods and raw materials to modernize regulatory processes; other sectoral accords include agriculture, biofuels, commercial strengthening and investment attraction (delegation included ministers Fávaro and Simone Tebet, ApexBrasil president Jorge Viana, Conab president Edegar Pretto, acting Anvisa director Rômison Mota, representatives of Fiocruz and Instituto Butantan, CNI and more than 100 businessmen).