A Brazilian government spokesperson announced yesterday that President Dilma Rousseff will visit Mexico in early 2013, likely in March, to build on “the very good impression” made by President Enrique Peña Nieto when the then-president elect visited Brasilia in September. The visit will focus on further reversing the tensions sparked over Brazil’s imposition of quotas in early 2012 as well as on sharing the Petrobras model, Brazil’s state oil company, with Mexican counterparts who are looking at how to reform the Mexican state oil company Pemex.
Plans are already underway for a follow-up visit where Pemex executives will travel to Brazil to learn first-hand how Petrobras functions.
Relations soured between Latin America’s two largest economies when Brazil, in response to an escalating trade deficit with Mexico, imposed import quotas on Mexican vehicles. Brazilian government officials have more recently hinted at the possibility of opening up discussions around the current automobile quotas.
Rousseff’s visit to Mexico may be largely symbolic, but the Mexican business community is awaiting concrete actions. Luis de la Calle, the former undersecretary of international business negotiations at the Mexican Ministry of Economy who actively negotiated the 1994 North American Free Trade Agreement said that it was “sensible to maintain a certain level of skepticism. At the end of the day, it comes down to interest and what is best for both Brazil and Mexico as a much more open trading relationship.”