Industry News

European Union and Mexico Accelerate Free Trade Agreement Talks

European Union and Mexico Accelerate Free Trade Agreement Talks

According to the European Commission, the EU and Mexico will initiate trade negotiations April 3-7 and June 26-29, 2017.  The meetings will take place in Mexico City, Mexico.

In a joint statement following a phone call between EU’s Commissioner for Trade and Mexico’s Minister of Economy Guajardo, both stated:

“We will take our trade relations fully into the 21st Century. We will be able to boost growth, making our firms more competitive and widening choices for consumers while creating jobs. Together, we are witnessing the worrying rise of protectionism around the world. Side by side, as like-minded partners, we must now stand up for the idea of global, open cooperation. We are already well underway in our joint efforts to deepen openness to trade on both sides. Now, we will accelerate the pace of these talks in order to reap the benefits sooner.”

Last year, the EU and Mexico initiated negotiations to update the existing Free Trade Agreement (FTA) from 2000. Global trade patterns have changed substantially during the sixteen-year period, pointing to the need for a broader and more far-reaching FTA. The purpose of this modernising process is to better mirror other ambitious trade deals that the EU and Mexico have negotiated lately.

Between 2005 and 2015, the yearly trade flow of goods between the two partners more than doubled (from €26 billion to €53 billion), against the backdrop of the existing Free Trade Agreement.

In line with the European Commission’s commitment to a more transparent trade and investment policy, the EU’s negotiating proposals in these talks are available online. The six proposals, representing the EU’s initial negotiating position, are aimed at modernising different elements of the current EU-Mexico agreement. There is also a report on the latest negotiating round available.

 

 

More information

Examples from around Europe of small companies exporting to Mexico

Blog post by Commissioner Malmström: On the right track – bringing trade relations with Mexico up to speed

EU-Mexico Trade relations 

Report from the latest negotiation round

EU negotiating proposals, November 2016