While the Turkish President Erdogan was visiting Mexico last month, the Mexican Senate ratified 5 bills that would strengthen relations between Mexico and Turkey. The bills dealt with cooperation on money laundering, terrorism, drug trafficking, as well as an agreement for the airline industries in both countries.
In addition to the bills, the foundations of a free trade agreement between Mexico and Turkey were discussed. The head of the COMCE (Consejo Mexicano del Comercio Exterior), Valentin Diez Morodo, proposed a short term goal of $2.5 Billion USD of trade and a long term goal of $5 Billion USD of trade between the two countries by 2023. Some might see this as a very lofty goal considering trade with Turkey currently only represents $1.5 Billion USD.
The free trade agreement will be ready by the time the G-20 summit kicks off, later this year.