Free Trade Agreement Mexico European Union

With regard to competition (Chapters IV, Articles 51-55), the agreement contains provisions relating to cooperation and exchange of information to ensure and facilitate the enforcement of the respective competition laws of the parties. Mexico and the EU have agreed to speed up trade negotiations to modernise their free trade agreement. They will hold two additional rounds of negotiations on April 3 and 7 and June 26-29, 2017, as part of an accelerated negotiating plan. Negotiations with Mexico began in May 2016 and the two sides reached an agreement in principle on the trade side in April 2018. Trade statistics and details of the existing trade agreement The new agreement will replace a previous eu-Mexico agreement in 2000. The conclusion of this new agreement between Mexico and the European Union sends a strong message to the world on the importance of keeping markets open, cooperating multilaterally to meet our global challenges and working together for the good of humanity. On 30 May 2016, Mexico and the European Union formally began talks to update their current free trade agreement. The first round of negotiations for the modernization of the agreement was held in Brussels, Belgium, on 13 and 14 June 2016. The second round of negotiations for the modernization of the agreement was held in Mexico City from 22 to 25 November 2016. The agreement was adopted by the Council of the European Union on 28 September 2000, after the contracting parties stagnated the necessary notification to enter into force of the agreement and came into force on 1 October 2000. On 3 April 2017, Mexico and the European Union held the third round of negotiations in Brussels, Belgium, aimed at modernising their free trade agreement. On 8 May 2017, Mexico and the EU announced dates for the next three trade negotiations: 26-30 June, 25-29 September and 27 November to 1 December 2017.

The fourth round of negotiations began on 26 June 2017 in Mexico City. The fifth round of negotiations consisted of 21 negotiating groups and concluded in Brussels on 2 October 2017. The sixth round of negotiations on the modernization of the free trade agreement ended on December 5, 2017 in Mexico City. Both sides are in the process of finalizing the legal revision of the text of the modernized agreement. After translation into all EU languages, it is sent to EU Member States and the European Parliament for signature and conclusion. The trade pillar of the new treaty increases the benefits of trade between Mexico and the European Union, particularly in the agri-food sector. Tariffs will be waived on Mexican products such as orange juice, tuna, honey, agave syrup, ovoalbumin and fruits and vegetables, among others. Sensitive products such as apples, peaches and dairy products have also been protected. This will benefit consumers while diversifying our exports. Mexico and the European Union successfully concluded negotiations for an updated trade agreement on 28 April 2020, pending approval by both sides. [4] The parties have committed to liberalizing, for the most part, all sectors of trade and services, in accordance with Article V of the GATS. The “investment” part (section V, Articles 45-49) essentially provides for the liberalisation and protection of certain payments and transfers related to foreign direct investment (Article 46) as well as the promotion of investment between the contracting parties (Article 47).

On 14 July 1998, a joint committee of the interim agreement was established and negotiations were initiated for a free trade agreement. Nine rounds of negotiations took place between November 1998 and November 1999. Negotiations on the free trade agreement between Mexico and the EU, concluded on 24 November 1999. On 13 May 1996, the General Council of the European Union approved a mandate to negotiate an agreement with Mexico. Negotiations began in October 1996. On 8 December 1997, the European Union and Mexico signed an agreement consisting of three pillars: an agreement on economic partnership, political cooperation and cooperation (known as the “comprehensive agreement”), which laid the groundwork for the negotiation of a free trade agreement between Mexico and the European Union; an accor