The European Parliament has approved agreements to modernise political and trade relations between the European Union and Mexico. The new framework is expected to remove nearly all remaining tariffs and broaden market access on both sides.
The updated partnership will replace the framework in place since 2000 and introduces revised provisions covering trade, investment, public procurement and political cooperation.
Parliament approves modernised EU-Mexico framework
The Modernised Global Agreement was endorsed by 479 votes to 119, with 65 abstentions. A separate Interim Trade Agreement passed by 474 votes to 131, with 60 abstentions.
The interim deal covers trade matters that fall under the EU’s exclusive competence and is designed to allow key commercial provisions to take effect before the broader agreement is fully ratified.
Lower tariffs and expanded agri-food trade
The updated trade framework will remove almost all remaining tariffs between Mexico and the European Union.
The measures cover a range of agri-food products, including cheese and pork, which can currently face Mexican tariffs of up to 45%.
The agreement also introduces market-access conditions through trade quotas and other provisions aimed at facilitating bilateral commerce.
Mexico will also recognise and protect 568 European geographical indications associated with traditional food and drink products. The protection is intended to prevent imitation goods from being marketed under protected regional names.
Wider access to public procurement
European companies will gain broader access to Mexican public procurement markets, including opportunities across 14 Mexican states and a wider range of public contracts.
The framework also updates rules covering services, investment and other areas of bilateral trade.
Political cooperation and human rights
Beyond trade, the Modernised Global Agreement includes commitments related to democratic principles, the rule of law and fundamental human rights.
It also expands cooperation on transparency, anti-corruption efforts, money laundering and organised crime, while strengthening institutional dialogue in other areas of shared interest.
Further steps required before full implementation
Following Parliament’s approval, the Council of the European Union can formally conclude the agreements.
The Modernised Global Agreement must still be ratified by EU member states and Mexico before entering fully into force. The Interim Trade Agreement can take effect once the EU and Mexico complete and formally notify each other of their respective internal procedures.
Mexico is the EU’s second-largest trading partner in Latin America, while the European Union is Mexico’s third-largest trading partner.
Source: Enfoque
