Mexico and the European Union are working to bring their modernized trade agreement into force this year, according to Maroš Šefčovič, the EU Commissioner for Trade and Economic Security, during a business summit organized by COMCE.
Šefčovič said the updated agreement is intended to support economic growth, diversify trade and deepen cooperation in areas such as technology, strategic minerals, machinery and agricultural products. He added that both sides are seeking to make use of tariff benefits and create new opportunities for companies and investors.
The EU official also emphasized the importance of legal certainty as a key condition for investment. He said companies require clear rules on legal frameworks, taxes and tariffs when making decisions in large markets such as Mexico.
Mexico’s Economy Secretary, Marcelo Ebrard, said the agreement could have long-term implications for the country’s relationship with Europe. He noted that both sides have shown willingness to strengthen bilateral ties through shared rules and broader economic cooperation.
Ebrard said Mexico aims to increase trade with Europe by nearly 50% by 2030. He added that trade with the region is currently growing at around 7%, leaving room for faster expansion. Mexico also seeks to improve its position among exporters to the European market.
Strategic sectors in the agreement include automotive and auto parts, aerospace, agribusiness, advanced manufacturing and critical minerals such as silver, copper and manganese. Bilateral promotion commissions are also expected to take place at least twice a year.
EU Ambassador to Mexico Francisco André said the modernized agreement reflects new economic, political and global priorities. The summit also included discussions on investment, trade diversification, the green agenda, agribusiness, automotive manufacturing and pharmaceuticals.
According to information presented at the meeting, the agreement would allow 90% of Mexican exports to enter the European market tariff-free, with the goal of gradually extending that benefit to all bilateral trade.
Source: Enfoque
