Mexico: TPP agreement is conducive to the expansion of new markets for toys1

Core summary: The Mexican Toy Industry Association stated that Mexico is increasing its exports to the United States, Canada, Europe and Central America. Next year, it will mainly expand its market in the Middle East and is expected to export to South Korea. The association hopes to use TPP to expand into new markets.　　 On October 5 this year, the 'Trans-Pacific Strategic Economic Partnership Agreement' (TPP Agreement) ministerial meeting made a substantial breakthrough in the Atlanta negotiations in the United States. The 12 countries participating in the negotiations held a joint press conference to express that the TPP agreement had reached an agreement. As one of the negotiating countries of the TPP agreement, Mexico is expected to benefit from it. According to reports, the TPP agreement will not only benefit Mexico’s automotive and pharmaceutical industries, but also Mexico’s exports of various toys will increase by 15% by 2018.　　　　 How much impact does the signing of the TPP agreement have on my country’s foreign trade? 　　 According to data from the Central Bank of Mexico, Mexico’s toy exports totaled US$1.547 billion last year. The main export destination was the United States, which accounted for 90% of the total toy exports. The largest company in the ink toy market is Mattel, which accounts for 28.8% of toy sales, followed by Hasbro, which accounts for 13.6%, and Lego, which ranks third, with 6.7%. The Mexican Toy Industry Association stated that Mexico is increasing its exports to the United States, Canada, Europe and Central America. Next year, it will mainly expand its market in the Middle East and is expected to export to South Korea. The association hopes to use TPP to expand into new markets.