International Agreements in Progress: Modernisation of the trade pillar of the EU-Mexico Global Agreement

12-09-2017

Trade relations between the EU and Mexico are currently governed by the trade pillar of the 1997 EU-Mexico Economic Partnership, Political Coordination and Cooperation Agreement (the 'Global Agreement'). Although the current framework for trade relations has functioned adequately, the agreement's trade pillar does not cover new trade issues that have gained in importance in the past two decades, nor does it reflect more recent political and economic developments in the EU and Mexico. The two parties have for this reason been working on modernising the Global Agreement's trade pillar since 2013, in order to adapt it to the new realities of global trade, geopolitics and investment policies. Through this modernisation, the EU and Mexico are seeking to unlock unfulfilled bilateral trade and investment potential by achieving the highest possible level of liberalisation while also securing better rules for all. Since June 2016, four rounds of negotiations have taken place in which a wide range of topics have been discussed. In the second half of 2017, the pace of negotiations is set to accelerate as both parties are eager to reach an agreement before the end of the year.

Trade relations between the EU and Mexico are currently governed by the trade pillar of the 1997 EU-Mexico Economic Partnership, Political Coordination and Cooperation Agreement (the 'Global Agreement'). Although the current framework for trade relations has functioned adequately, the agreement's trade pillar does not cover new trade issues that have gained in importance in the past two decades, nor does it reflect more recent political and economic developments in the EU and Mexico. The two parties have for this reason been working on modernising the Global Agreement's trade pillar since 2013, in order to adapt it to the new realities of global trade, geopolitics and investment policies. Through this modernisation, the EU and Mexico are seeking to unlock unfulfilled bilateral trade and investment potential by achieving the highest possible level of liberalisation while also securing better rules for all. Since June 2016, four rounds of negotiations have taken place in which a wide range of topics have been discussed. In the second half of 2017, the pace of negotiations is set to accelerate as both parties are eager to reach an agreement before the end of the year.