Mexico Wants to Extend Duties on Chinese Imports as Part of WTO PactMexico wants to extend duties on Chinese footwear and textile imports for eight years as part of a bilateral trade pact with Beijing, Mexico's economy minister said on Monday.Luis Ernesto Derbez said the duties, the major sticking point between Mexico and China, seek to protect two key sectors. Mexico is the only World Trade Organization member that has not reached a bilateral pact with Beijing. That could hold up China's 15-year fight to join the body that sets global rules on international trade. Although Mexico originally said it would not block China's membership even if the bilateral deal were not completed, it seems likely that other WTO members will want to know the details of the deal with Mexico before final approval of Beijing's WTO entry. Under the WTO system, a deal reached with one nation has to be offered to all 141 members. During a meeting with foreign correspondents, Derbez said trade relations with China have been ``tense, but cordial.'' He said the eight-year period is needed to implement government-sponsored programs that would strengthen the two sectors and make them more competitive against Chinese products. Beijing has proposed a three-year period, he said. The Mexican government will hold two meetings with Chinese counterparts in the next couple of months. ``We are getting closer to an agreement,'' Derbez said. Mexico is also requesting market access into China for more than 260 products. Derbez said language and cultural difference have held up talks. ``It's very complicated for us to enter this market,'' he said. |
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