Mexico will promote regional integration with Nicaragua, Costa Rica, Guatemala, Honduras and El Salvador, which is expected to facilitate trade by harmonizing rules and different procedures, and also reduce operation costs, said Sojo.

Mexico signed FTAs with Costa Rica, Nicaragua and the Northern Triangle nations (El Salvador, Guatemala and Honduras) in 1995, 1998 and 2001 respectively .

Speaking at a business forum titled “Opportunities for Investment and Challenges to Competitiveness in the Mesoamerican Region” Sojo said such integration will help these nations withstand the growing competence of other regions.

The proposed comprehensive FTA seeks to include Belize, Panama and the Dominican Republic as well, thereby completing the Mesoamerican bloc, he added.