Mexico authorizes import of Japanese cars without taxes

14:12, March 05, 2010      

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The Mexican government authorized the entrance of 36,171 Japanese cars into the Mexican market free of duties from April 1, 2010 to March 31, 2011, the Mexican Economy Ministry said on Thursday.

This measure was taken as part of the Agreement for the Strengthening of the Economic Association between Mexico and Japan, the ministry said.

Under the agreement, Mexico will import, free of duty, Japanese cars that accounted for 5 percent of all the cars sold in Mexican territory.

Statistics from Mexico's Association of Automotive Industry indicated that in 2009 754,918 cars were sold in Mexico, a drop of 26.4 percent compared with 2008.

According to the information system of Mexico's automotive sector, Mexico produced about 1.5 million cars in 2009.

Source: Xinhua
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