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Mexico Grants Near FTA Status to Korea

Posted July. 04, 2010 02:07,   


Korean companies can soon participate in international bids placed by the Mexican government and its state-run companies.

Paying a state visit to Mexico, President Lee Myung-bak held summit talks with Mexican President Felipe Calderon in Mexico City Thursday. Saying Korea and Mexico have yet to sign a free trade agreement, President Lee asked Calderon to “allow Korean companies to participate in international bids for public infrastructure projects in Mexico even before signing a free trade deal.”

Calderon immediately accepted the request, saying he will take diverse measures to that end.

Mexico City had only allowed companies whose countries had free trade deals with Mexico to bid for public infrastructure projects. Calderon, however, told President Lee that Mexico will grant a special privilege to Korea.

President Lee`s spokeswoman Kim Eun-hye said, "The agreement will allow Korean companies to join international bids placed by the Mexican government on an equal footing with companies from countries Mexico has free trade agreements with even before Korea’s signing of an FTA with Mexico."