The UK has started its free trade agreement (FTA) talks with Mexico, with solicitors’ leaders hoping negotiators will lock in current legal services market access and increase trade in other sectors.
The International Trade Secretary launched negotiations on a new UK-Mexico Free Trade Agreement (FTA) alongside her Mexican counterpart, Tatiana Clouthier, in London last week.
It is thought that negotiating a “Mexico 2.0” deal would transform the UK’s relationship with the world’s 16th biggest economy and secure a brand new, enhanced FTA for a digital age, which supports hi-tech jobs, industries of the future and economy growth.
“We welcome the start of these trade negotiations, as Mexico is a priority market in the Latin America region for our members,” said Law Society of England and Wales president I. Stephanie Boyce.
“The deal reflects the significant commercial opportunities there for law firms – particularly in sectors such as banking and financial services, insurance, reinsurance, infrastructure, energy, telecommunications and fintech.
A trade agreement with modernised provisions on services and digital assets will help drive increased trade and provide opportunities for our members.
The Law Society contributed to the UK government’s consultations in advance of the FTA negotiations and has worked closely with the Ministry of Justice and with members and law firms with an interest in the Mexican legal services market to ensure that market access for legal services is a priority in the negotiations.
The Law Society will continue to closely monitor the negotiations to ensure that the agreement is of greatest benefit to our members.”
