India, Mexico Sign Terms of Reference to Begin PTA Negotiations

New Delhi, Oct 28 (KNN) India and Mexico have signed the Terms of Reference (ToR) for negotiations on a Preferential Trade Agreement (PTA), formally launching talks aimed at expanding bilateral trade, investment and business opportunities.

The ToR establishes the framework, scope, modalities and roadmap for negotiations on a mutually beneficial and balanced agreement. Key areas include 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.

The proposed PTA aims to leverage complementarities between the two economies and improve market access for businesses. Potential areas of cooperation include automobiles, chemicals, electronics, pharmaceuticals, agri-food, energy, critical minerals, medical devices and advanced manufacturing.

Mexico's integration into global value chains also offers opportunities for Indian exporters and investors, while the agreement is expected to support diversified and resilient supply chains.

Both sides also discussed a possible Mexican business mission to India in the first quarter of 2027 to facilitate business-to-business meetings, identify commercial opportunities and strengthen industry ties.

(KNN Bureau)