After several meetings between Japanese and Mexican authorities aiming to end their differences on agricultural tariffs, both parties are on their way to reach a trade agreement, which they hope will finalize by end March.
The trade pact could have a positive impact on the exports of farmed bluefin and yellowfin tuna from Mexico.
According to sources from the Japanese Ministry of Foreign Affaires the two parties have not been able to confirm any key advances during their recent meetings, however conversations for the trade pact are still continuing during this week.
The Mexican delegation, headed by the Undersecretary of International Trade, Angel Villalobos, is pursuing its Japanese colleagues to open its markets for the import of Mexican pork, poultry, oranges and other Mexican products.
Mexico has threatened to withdraw from the negotiations if both countries are unable to solve their differences by the end of March. Mexico exported a total of USD 309,800 million in several products to Japan during the first half of 2003 and imported USD 3,600 million from Japan during the same period.
Japan is the main worldwide food buyer and is a major importer of Mexican products, among others: tuna.