The Council of the European Union has approved the decisions needed to move forward with the signing of two new agreements with Mexico: the Modernised Global Agreement and an Interim Trade Agreement.
The formal signing is expected to take place on May 22, 2026, during the EU-Mexico summit. The agreements are intended to update the framework that has governed the relationship since 2000, expanding cooperation beyond trade to include investment, political dialogue, security, digital transition, climate policy, sustainable development and human rights.
The Interim Trade Agreement is designed to bring the economic parts of the deal into effect sooner, while the broader agreement completes its ratification process. It aims to remove most remaining tariffs, improve access to public procurement markets and create additional opportunities in services and investment.
According to the EU, more than 45,000 European companies that export to Mexico could benefit from the updated framework, most of them small and medium-sized businesses. The agreement also includes provisions on digital trade, intellectual property, labor rights, sustainability and the protection of geographical indications.
Negotiations to modernize the EU-Mexico agreement began in 2016 and concluded on January 17, 2025. Mexico is currently the EU’s second-largest trading partner in Latin America, while the European Union is Mexico’s third-largest trading partner. Bilateral trade reached more than 82 billion euros in goods in 2024 and nearly 26 billion euros in services in 2023.
The agreements still require approval from the European Parliament. The Modernised Global Agreement will also need ratification by EU member states and Mexico before it can fully enter into force.
Source: Expansión
