TRADE – EU/ MEXICO AGREEMENT
European Commission, Press Release, ‘EU and Mexico conclude negotiations for new trade agreement’
28 April 2020
The negotiation phase of the new trade agreement between the European Union and Mexico was concluded by the Trade Commissioner Phil Hogan and the Mexican Minister of Economy Graciela Márquez Colín. Mexico is an important trade partner for the EU for trade between Latin America; “a bilateral trade in goods worth €66 billion in 2019”.The agreement comprises of a “duty-free trade in goods circulating between the EU and Mexico, rules on sustainable development like the implementation of the Paris Climate Agreement, investment protections and simplified customs procedures”. The trade agreement is a part of what is referred to as the Global Agreement, in which the EU will include “provisions to fight corruption with the implementation on measures against bribery and money laundering”. The agreement will now move onto the signature and ratification phase, once the legal revision of the agreement is finalized.