As the world becomes increasingly polarized and divided, it is now necessary more than ever for businesses/industries yearning for favorable business environment to engage in dialogue, and there are calls for even greater collaboration among countries/regions through such dialogues. Amid this backdrop, on June 11, 2025, the Japan Business Federation (Keidanren) and the Mexican Business Council for Foreign Trade, Investment and Technology (COMCE) co-hosted the 34th Mexico-Japan Business Council Meeting in Tokyo, Japan. Approximately 90 business leaders from the Japan-Mexico Economic Committee of Keidanren (Chairs: Seiji Kuraishi and Koji Shibata) and the Mexico-Japan Economic Committee of COMCE (Chair: Marcus Baur) participated and exchanged opinions on issues such as trade and investment environment and technology in the future.

Under the multilateral trading system centered around the World Trade Organization (WTO), as well as bilateral and plurilateral arrangements such as the Japan-Mexico Economic Partnership Agreement (EPA), the United States-Mexico-Canada Agreement (USMCA), and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Japan and Mexico have been, through free and fair trade and investment, achieving growth and steadily developing their economic partnership. Thus, both sides have expressed strong concerns regarding the negative impact on the global economy and the increased uncertainty in the business environment that are caused by protectionist policies such as the recent imposition of tariffs.

At the same time, maintaining and strengthening the rule-based, free, and open international economic order is crucial for the sustainable growth and stable business activities of both countries, and for this reason, there is a need to strengthen the inter-regional economic relations between Latin American and Asia. Based on this recognition, both sides agreed to respond to the current challenging circumstances by deepening their mutually complementary cooperation and maintaining and strengthening supply chains. Given that access to the US market is crucial for both countries, both sides have confirmed the importance of continuing in principle the current USMCA. With respect to the joint review of USMCA, rules such as the rules of origin must be applicable, practical and clear, and their stability over medium- to long-term must be ensured. To this end, it was agreed that both countries' business communities will coordinate to lobby the Mexican, US, and Canadian governments.

While new rules to secure fair conditions for competition are being called for, it is difficult to form a consensus at the WTO, and this is lending greater significance to plurilateral and bilateral rule-making. Considering this standpoint, both sides have acknowledged the need to promote the expansion of the CPTPP to countries/regions that can meet its high-standard rules, while further enhancing its rules. Moreover, both sides have renewed their determination to once again reiterate the importance of the Japan-Mexico EPA—which marks its 20th anniversary of entering into force this year—and expand the trade and investment relationship under the EPA even further.

Both sides have exchanged opinions on achieving carbon neutrality as a response to climate change, a common challenge which both countries face, particularly through the promotion of renewable energy and use of hydrogen energy. Both sides also have discussed the sustainable development of specific industries, focusing on the automotive industry and the advancement of digital transformation. Both parties pointed out the importance of developing technologies to support these endeavors.

In addition, both sides have, with respect to Mexico's business environment, acknowledged that it is essential to enhance safety and order, improve the infrastructure for logistics, and ensure legal stability and the predictability of regulation, taxation, etc. Also recognized was the importance of early conclusion of a social security agreement, from the viewpoint of fostering human and economic exchange between Japan and Mexico.

Last but not least, Keidanren and COMCE agreed to hold the 35th Japan-Mexico Business Council Meeting in Mexico at an appropriate time.