Brazil, Mexico initiate auto industry free trade agreement

On Tuesday (19 March), Brazil and Mexico kicked off an agreement which stipulates the free trade of light commercial vehicles and automobile parts between the countries.

The agreement, which eliminates quotas and fees on exports and imports, will also include heavy vehicles (trucks and buses) as of 2022, further deepening the relationship between Latin America's two largest economies.

A decree to the free trade agreement was originally signed in 2002.