In February 2022, Argentina and China signed a memorandum of understanding under the Silk Belt and Road Initiative. The Belt and Road Initiative aims to boost cooperation and connectivity between countries through land and ocean routes. According to the Argentine government, the initiative aims to develop a platform
Mexico‘s Ministry of Foreign Affairs (SRE) highlighted six functions of the World Trade Organization (WTO). Succinctly these are: administering and monitoring the implementation of existing agreements, providing a forum for trade negotiations, resolving trade disputes, reviewing national trade policies, cooperating with other international organizations to promote coherence in
Mexico‘s auto parts production for the export market broke a record in 2022, but production for the domestic market is still below its all-time high. Last year, total Mexican auto parts production was US$107.617 billion, an increase of 13.5% year-on-year. Separately, production for the foreign market grew 13.7%
By far, China led the ranking of the world’s largest vehicle producers in 2022, followed by the United States and Japan. From 2021 to 2022, China increased its production from 26.1 to 27 million units. According to statistics from the China Association of Automobile Manufacturers, China’s automobile production
Although world vehicle production has recovered modestly in the last couple of years, it is still below 2018, the peak. According to data from the International Organization of Motor Vehicle Manufacturers (OICA), 85 million motor vehicles were produced across the globe in 2022, a year-on-year rise of 6
Peru made a number of tariff elimination commitments under CPTPP and some overlap with its regional trade agreements (RTAs), according to a WTO report. Peru has a common liberalization schedule for all CPTPP Parties, which provides for a 12-year transition period (Annex 2-D of the Treaty dedicated to