Mexico’s government confirmed its deal with Alibaba Group Holding Ltd on Wednesday (NYSE:$BABA). The deal’s main prerogative was to introduce Mexican products and services — especially from small and medium sized firms — onto the top Chinese e-commerce firm’s platform.
As Mexican President Enrique Pena Nieto finishes his tour in China, his time was well spent discussing trade and investment in an effort to diversify and open new markets for Mexico’s products. On the other end, U.S. President Donald Trump has repeatedly threatened to terminate the North American Free Trade Agreement (NAFTA), a deal that grounds the $1.2 trillion in trilateral trade between the U.S., Canada, and Mexico. Nieto felt the sense of urgency in opening up new trade channels.
Further, during Nieto’s Trip, China’s Vice trade minister, Wang Shouwen, had hinted that China was interested in establishing a free trade agreement with Mexico.
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