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Vaughan Gething MS, Minister for Economy

First published:
20 May 2022
Last updated:

On 20 May 2022 the UK government announced its intention to launch trade negotiations with Mexico.  The UK and Mexico agreed a UK-Mexico Trade Continuity Agreement last year, which will act as an interim deal until a comprehensive free trade agreement is in place.

There is already a significant amount of trade between the UK and Mexico, and the Welsh Government is supportive of measures to increase this further. In the year ending December 2021, Mexico was the 36th largest export market for Wales, accounting for around 0.4% of Welsh goods exports, and the 53rd largest import market with around 0.2% of Wales’ total goods imports coming from Mexico.

The negotiations will provide the opportunity to lock in certainty for businesses and to explore new arrangements for goods and services trade, whilst also ensuring continuation of elements of the existing deal that would otherwise expire over the coming years.

We will engage with a wide range of stakeholders to understand the impacts any trade deal sectors in Wales and identify potential opportunities for Welsh producers in the upcoming negotiations.