New Delhi - Mexico and India take an important step towards strengthening their economic and trade relations with the signing of the Terms of Reference for negotiations on a Preferential Trade Agreement (PTA), which establish the framework, scope, modalities and roadmap for negotiations aimed at creating new economic opportunities for both countries.

The signing formally launches negotiations for a mutually beneficial and balanced PTA, with the potential to expand bilateral trade, create business opportunities, enhance investment flows and contribute to resilient and diversified supply chains.

During the visit of Commerce Secretary, Shri Rajesh Agrawal, both delegations discussed bilateral relations and opportunities to expand trade and investment flows. The discussions were held with Mexico’s Undersecretary of Foreign Trade, Luis Rosendo Gutiérrez Romano, who participated on behalf of Secretary of Economy Marcelo Ebrard Casaubon.

The Terms of Reference cover key negotiating areas, including market access for goods, rules of origin, customs procedures and trade facilitation, dispute settlement, sanitary and phytosanitary measures, technical barriers to trade and trade remedies.

Both sides further discussed the possibility of organising a Mexican business mission to India during the first quarter of 2027. The proposed mission would facilitate business-to-business meetings, help identify commercial opportunities and strengthen commercial ties between the productive sectors of the two countries.