- The Prime Minister of Japan, Mr. Junichiro Koizumi, and the President of the United Mexican States, Mr. Vicente Fox Quesada, held a meeting in Los Cabos on October 27th, 2002, where the two leaders discussed the importance of further strengthening the economic partnership between Japan and Mexico.
- The two leaders recalled that they decided on June 5th, 2001, to establish the "Japan-Mexico Joint Study Group on the Strengthening of Bilateral Economic Relations" , which was comprised of individuals from business, academic and government circles, in order to comprehensively study ways to strengthen the bilateral economic relations including the possibility of a free trade agreement. The two leaders welcomed the Report of the Joint Study Group published on July 25th, 2002, and confirmed the importance of enhancing the economic partnership between the two countries in order to strengthen the bilateral economic relations and revitalize their economies.
- Taking into account the proposal of the Report of the Joint Study Group, the two leaders decided to launch negotiations to conclude a bilateral agreement, including the elements of a free trade agreement, to strengthen the bilateral economic partnership between Japan and Mexico.
- In order that Japan and Mexico will benefit, without delay, from the strengthening of the bilateral economic partnership, the two leaders shared the view that the two Governments should start official negotiations for the agreement in November 2002 in Tokyo, and that they should make maximum efforts to finish the negotiations in substance as soon as possible with a target of approximately one-year period.
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