SAO PAULO (Reuters) - Marcos Troyjo, Brazil's deputy economy minister for foreign trade, said on Monday that Brazil had formally started free trade talks with Mexico in a bid to build a complex commercial pact between the two largest economies in Latin America.
The talks represent the latest chapter in Brazil's efforts to open up its hidebound economy and trade more with the rest of the world. Under far-right President Jair Bolsonaro, Brazil has already begun talks on a trade treaty with the United States.
Speaking at a conference hosted by the Brazil-China Business Council, Troyjo said Brazil hoped to increase commerce with Mexico, highlighting the sale of farm products.
In July, U.S. President Donald Trump said he would pursue a trade agreement with Brazil, suggesting a friendly relationship with Bolsonaro could help lower trade barriers between the two biggest economies in the Americas.
Mexico's economy ministry did not immediately respond to a request for comment.