Mexico is entering a significant period for its trade policy in May, with two major developments on the agenda: the signing of an updated agreement with the European Union and the formal start of talks related to the review of the United States-Mexico-Canada Agreement, known as USMCA.
According to Economy Secretary Marcelo Ebrard, the agreement with the European Union is expected to be signed on May 22, while discussions on the USMCA review are set to begin on May 27. He said these negotiations have not been affected so far by security-related issues.
The Council of the European Union recently approved the signing of the modernized Global Agreement and an Interim Trade Agreement with Mexico. The interim deal is designed to bring the economic benefits of the agreement into effect sooner, including broader access to markets, public procurement, services and investment.
On USMCA, Ebrard said a quick conclusion appears unlikely. He noted that the review could take several years and may lead to periodic assessments, making it important to reduce uncertainty for investment and regional trade.
Mexico’s trade strategy includes maintaining favorable conditions with the United States, strengthening ties with Europe and Asia, and taking advantage of supply chain relocation. As part of that approach, the government also plans to send trade missions to China and India.
The Economy Ministry sees strong opportunities in medical devices, pharmaceuticals, semiconductors, robotics and data centers. These sectors align with a broader regional effort to strengthen North American supply chains and reduce dependence on Asian markets.
Source: Enfoque
