The European Union plans to sign its modernized Global Agreement with Mexico before June, as both sides fast-track the diplomatic and political steps required to finalize the deal, according to EU Ambassador Francisco André.
Once implemented, the agreement would eliminate 99% of remaining tariffs between Mexico and the EU, with the rest phased out over time.
Amid global trade tensions, the updated framework seeks to streamline procedures, strengthen customs cooperation, and address new dynamics such as e-commerce and the digital economy.
Since the original agreement took effect in 2000, bilateral trade has nearly doubled. Today, the EU is Mexico’s third-largest trading partner and a major export destination, offering access to a market of roughly 450 million consumers.
The revamped deal includes a dedicated chapter for small and medium-sized enterprises (SMEs) to help broaden participation beyond large multinational companies. In agriculture and food products, nearly all trade would become tariff-free, potentially creating new opportunities for producers able to leverage the updated rules.
The agreement also incorporates environmental commitments focused on sustainable production standards and climate considerations.
While the commercial pillar is expected to move swiftly through the European Parliament, other ratification processes may take longer. The EU accounts for about 9% of Mexico’s foreign trade and is one of its leading investors, with more than €200 billion in accumulated investment.
Source: Forbes México
