PDF download

SourceMex PDF file 2000 right arrow Mar

Mexico-E.U. Trade Accord And Improved Global Prices Expected To Boost Mexican Steel Sector In 2000

ISSN: 1054-8890
LADB Article ID: 53940
Category/Department: Mexico
Date: 2000-03-29
By: LADB Staff

The Mexican steel industry is expected to begin a long- term recovery this year with the completion of a free-trade agreement with the European Union (EU) and a recovery in global steel prices. The EU-Mexico accord signed by President Ernesto Zedillo and European Commission President Romano Prodi in late March is expected to attract fresh capital to the ailing Mexican steel industry and to open the lucrative European market to Mexican products. The accord is scheduled to take effect July 1, 2000. Jose Gomez Urquiza, director of the Camara Nacional de la Industria del Hierro y del Acero (CANACERO), said the agreement would create opportunities for Mexican companies to begin producing more specialty steel products, including parts for the motor-vehicle industry. These products, which will be allowed to enter the EU at reduced tariff rates, generally sell at higher prices than other steel-based items. The increased production of specialty steels for the EU automotive industry will also open up opportunities to sell these products to Mexican and US manufacturers

This is only an abstract of the requested article. To obtain the full text, please purchase a subscription or inquire with your institution as to its subscription to LADB.