Brussels, 17 January 2025
Leading MEPs welcome the conclusion of the negotiations on the modernised EU-Mexico Global Agreement.
The Chair of the Committee on Foreign AffairsDavid McAllister(EPP, Germany), the Chair of the European Parliament’s delegation for relations with MexicoAntonio López-Istúriz White(EPP, Spain), and the Committee on Foreign Affairs’ standing rapporteur on EU-Mexico relationsJavi López(S&D, Spain) issued the following statement on Friday.
“We warmly welcome the conclusion of the negotiations on the modernised EU-Mexico Global Agreement, which marks a significant milestone in reinforcing our strategic partnership with Mexico and highlights the shared commitment of both parties to addressing key global challenges and advancing mutual interests.
The agreement reflects the deep political and geopolitical ties between the European Union and Mexico, underscoring our shared dedication to the principles of multilateralism and international cooperation. As longstanding like-minded partners, the EU and Mexico are uniquely positioned to strengthen the global rules-based order and address urgent global challenges.
This modernised agreement not only reaffirms our shared values and commitment to democracy, human rights, and sustainable development but also underscores the importance of judicial and police cooperation to tackle common challenges.
Furthermore, the modernisation of the Global Agreement reflects our joint resolve to strengthen economic resilience and diversify partnerships amidst a shifting geopolitical landscape. In an era marked by increasing global uncertainty, this agreement shall play a vital role in reinforcing political dialogue and enhancing cooperation to address complex transnational challenges, ensuring greater stability and prosperity for both the EU and Mexico.
The European Parliament will now examine the final text with great attention, ensuring that the agreement upholds our values and delivers tangible benefits for citizens. We remain committed to engaging in a comprehensive, balanced, and constructive debate as we move toward its ratification.”
Next steps
The agreement would undergo a legal review, after which it will be translated into all official EU languages. When these steps are completed, the Commission will present it to the Parliament and EU Member States’ governments for approval. Parliament must give its consent for any international agreement to be concluded and enter into force. The Committee on Foreign Affairs, in cooperation with the EP delegation for relations with Mexico, will be responsible for examining the political dialogue and cooperation part of the agreement while the Committee on International Trade will be responsible for the trade part. Subsequently, the plenary would decide whether to approve or reject the agreement.
Source – EU Parliament
Key trade MEPs welcome the updated EU-Mexico agreement
Brussels, 17 January 2025
After the conclusion of talks on a modernised agreement between the EU and Mexico, the Trade Committee Chair and the Standing Rapporteur for Mexico made the following statement on Friday.
“The announcement today is a positive signal in a time of increasing protectionism and threats to the international trading system. This update was long overdue, but now we are finally there. I am glad we have managed to modernise this agreement and align it with the newest standards.
The economic benefits for both sides are clear. The agreement provides further stability in our economic and investment relations, among others for the many European investors in Mexico. Symbolically, it also demonstrates to the world that, despite rising tariff threats, Mexico and the EU are reinforcing their commitment to open, fair, and rules-based trade. The modernised deal offers a renewed platform for coordination on future challenges – especially important given that the EU and Mexico are both in the crossfire of Trump’s tariff threats.
Following the conclusion of the EU-Mercosur trade agreement in December, this agreement is further proof that our trade policy is on the right track. In a world of increasing fragmentation, the EU is setting an example by diversifying trade and strengthening relations with reliable partners. The European Parliament stands ready to carefully analyse the new provisions and proceed with the ratification process swiftly. There is no time to waste,”Bernd Lange (S&D, DE), Chair of the Committee on International Trade, said.
“The modernised EU-Mexico Global Agreement highlights the EU’s commitment to Ibero-America, a region with shared historical, cultural, and linguistic ties. It strengthens economic relations, making Mexico the EU’s second largest trading partner in Latin America. EU exports could grow by 75%, and companies could save up to €100 million annually in customs duties. The agreement boosts trade in services, including financial services, telecommunications, and transport, and simplifies customs procedures.
It will strengthen the investment environment with greater transparency, non-discriminatory treatment, and stronger investment protections. European firms will also be able to compete for more public contracts in Mexico. Moreover, this is the first ever EU trade agreement to have an anti-corruption clause. The modernisation further protects intellectual property, banning the sale in Mexico of imitations of 340 distinctive foods and wines from EU regions, such as Rioja, Champagne, and Parma.
Thanks to this new agreement, the EU strengthens its role in the world as a guarantor of free trade at a time of rising protectionism. The modernisation of the Global Agreement will provide legal certainty for our European companies, creating more opportunities for them to grow and create new jobs,” Borja Giménez Larraz (EPP, ES),Standing Rapporteur for Mexico, said.
Background
The EU’s trade relations with Mexico are currently governed by the EU-Mexico Economic Partnership, Political Coordination and Co-operation Agreement (‘Global Agreement’), which has been in force since 2000. Negotiations to modernise the agreement began in 2016, leading to an agreement in principle on the trade part in April 2018 and a final consensus on public procurement in April 2020. The conclusion of the negotiations was announced on 17 January 2025.
The EU is Mexico’s third-largest trading partner and its second-largest investor. In 2023, bilateral trade in goods amounted to €81.7 billion. The new agreement will further liberalise trade in agricultural goods, including the removal of high Mexican tariffs on European agri-food products, while protecting sensitive agricultural products. A new comprehensive trade and sustainable development chapter includes commitments on labour rights and environmental protection and introduces a dialogue with civil society on all areas of the agreement.
Next steps
The agreement will now undergo technical finalisation and translations before the European Commission submits it to the Council and European Parliament. Parliament’s consent is required for its entry into force. Once referred to Parliament, the International Trade Committee and the Foreign Affairs Committee will review the content and prepare a recommendation for a final vote in plenary.