trade photos
As of 2023, the EU will be Mexico’s third largest trading partner after the United States and China (bilateral merchandise trade amount of 81.7 billion euros), and the EU will be Mexico’s second largest trading partner after the United States (28.6 billion euros). became an export market. The EU’s main imports from Mexico are machinery and equipment, transportation equipment, mineral products, optical/photographic equipment, and products from chemical or related industries.In 2023, the EU will become Mexico’s third largest import after the United States and China. Became an import source. The EU’s main exports to Mexico include machinery and equipment, transport equipment, chemicals and base metals, and the EU continues to record a trade surplus with Mexico. The surplus increased from 21.1 billion euros in 2022 to 24.6 billion euros in 2023. In the services sector, the EU’s imports from Mexico are dominated by travel and transport services. The EU’s service exports to Mexico mainly consist of business services, transportation services, travel services, telecommunications, computer and information services, etc. In terms of foreign direct investment, the EU ranks second to Mexico after the United States. It is the largest investor country in the world.
EU and Mexico
Modernizing the EU-Mexico Global Agreement
In 1997, Mexico became the first country in Latin America to sign an Economic Partnership, Political Adjustment and Cooperation Agreement (Global Agreement) with the EU.
The agreement entered into force in 2000 and covers political dialogue, trade relations and cooperation. The global agreement’s trade provisions later evolved into comprehensive free trade agreements covering trade in goods and services. These provisions became effective in October 2000 and 2001, respectively.
At the 2013 EU, Latin American and Caribbean Summit, leaders decided to consider options for a comprehensive renewal of the global agreement.
Negotiations with Mexico began in May 2016. The two countries reached an agreement in principle on trade in April 2018, which was supplemented by commitments on public procurement in April 2020.
The European Commission hired an independent consultant to carry out a Sustainability Impact Assessment (SIA) to analyze the social, environmental and economic impacts of the new agreement with Mexico. The Committee’s response to SIA’s findings and recommendations is contained in this position paper.
On January 17, 2025, the EU and Mexico announced the end of negotiations on a modernized EU-Mexico Global Agreement. If ratified, the modernized EU-Mexico Global Treaty Agreement would replace the existing agreement.
This modernization will bring into the 21st century a trade and investment framework based on reciprocity, foster new opportunities for business, and include a strong and clear commitment to sustainable development and the fight against corruption. It will be.
Dialogue with the committee
The EU and Mexico meet regularly to discuss issues and best practices, and to oversee the proper functioning of the agreement.
Technical Committee Meetings – Agenda and Reports
