Mexico City

Mexico and Brazil are starting negotiations on a free trade agreement between Latin America's two largest economies.

Mexican Economy Minister Bruno Ferrari says the talks offer a chance for Mexico to boost trade with Brazil's vibrant and growing economy. He says both countries will benefit from the transfer of technology as well as shared growth and new jobs.

Ferrari says the governments will work product by product, tariff by tariff to figure out how to work together.

No timetable has been set and no formal agreement made, but Ferrari said Monday that he believes the talks will continue after Brazil's president-elect Dilma Rousseff takes office Jan. 1.

November 8, 2010
8:55PM ET
Source: The Associated Press

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