Mexico’s government said on Wednesday it has inked a deal with Alibaba Group Holding Ltd, to get Mexican products and services, especially from small- and medium-sized firms, onto the top Chinese e-commerce firm’s platform.
The deal comes as Mexican President Enrique Pena Nieto wraps up a trip to China to discuss trade and investment, as part of a strategy to diversify and open new markets for his country’s products.
With U.S. President Donald Trump repeatedly threatening to terminate the North American Free Trade Agreement (NAFTA), a deal that underpins $1.2 trillion in trilateral trade between the United States, Canada and Mexico, Pena Nieto’s government has stepped up efforts to open up new trade channels.
The United States, Canada and Mexico concluded a second round of talks to modernize NAFTA on Tuesday, with top officials saying progress had been made.
During Pena Nieto’s trip, China’s vice trade minister, Wang Shouwen, said China was interested in possibly establishing a free trade agreement with Mexico.
Reporting by Anthony Esposito; Editing by Paul Simao