(MENAFN) The Brazilian government announced that a trade deal with Mexico on light vehicles has taken effect on Tuesday.
The agreement allows free trade of light vehicles in both countries, eliminating import and export tariffs in the sector.
Brazil's Ministry of Foreign Relations and Economy said: "The return to free trade between Brazil and Mexico is an important step to deepen the trade relationship between Latin America's two largest economies."
Free trade for heavy vehicles (trucks and buses) and their parts could come in 2020, with mutual negotiations on this front scheduled in the coming months.
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