Mexico–European Union relations
In 1997, Mexico was the first country in Latin America to sign a partnership agreement with the EU. The "EU-Mexico Economic Partnership, Political Coordination and Cooperation Agreement" entered into force in 2000 and established a free trade area (FTA) between the two parties (see trade section below). It also establishes regular high-level contact between the EU and Mexico and acted as a catalyst for increased investment flows.
Mexico and the EU reached a new agreement in principle on trade in April 2018, which will replace the first agreement once is ratified by all EU members and the Mexican Senate. The new agreement will cover all goods, including the agricultural sector. It will be the first EU trade agreement to include an anti-corruption chapter for both, the private and the public sectors.
The EU is Mexico's second largest export market after the United States, and Mexico is the EU's 12th export partner. Mexico's main exports to the EU are mineral products, machinery, electrical and transport equipment and optical photo precision instruments. EU exports to Mexico consist of machinery, electrical equipment, transport equipment, chemicals and minerals. In terms of services, Mexico exports travel/transport and construction services. The EU exports travel/transport and computer services.
The two have a broad and comprehensive FTA which entered into force in October 2000. It covers goods, services, public procurement, competition, intellectual property and investment. Bilateral investment flows are significant. A joint committee and special committees meet once a year and a joint council meets biannually.
|EU – Mexican trade in 2008|
|Direction of trade||Goods||Services||Investment flow||Investment stocks|
|EU to Mexico||€15.9 billion||€4.8 billion||€5.6 billion||€49 billion|
|Mexico to EU||€9.9 billion||unknown||€0.9 billion||€11.4 billion|
- Mexico (United Mexican States), European External Action Service
- "EU-Mexico Trade Agreement" (PDF). European Commission. 2018-04-23. Retrieved 2018-09-18.
- "Mexico - Trade - European Commission". European Commission. Retrieved 2018-09-24.
- Swanson, Ana (2018-04-21). "In Message to Trump, Europe and Mexico Announce Trade Pact". The New York Times. Retrieved 2018-09-24.
- "European Union, Trade in goods with Mexico" (PDF). European Commission. 2018-04-16. Retrieved 2018-09-24.
- Bilateral relations Argentina, European Commission