Free Trade Agreement Between Mexico And The European Union

Trade statistics and details of the existing trade agreement The seventh round of negotiations was held in Brussels, Belgium, from 11 to 21 December 2017. During this round, Mexico and the EU completed their work on competition, SMEs, transparency, SPS, good regulatory practices, trade and sustainable development. Negotiations also covered revised market access offers for products traded after the sixth round of negotiations. The objective of this agreement is to create a framework to promote the development of trade in goods and services and their bilateral and preferential, progressive and reciprocal development, taking into account the sensitivity of certain product and services sectors and in accordance with the relevant WTO rules. The Joint Council is responsible for defining the modalities and timetable for the liberalization of tariffs and non-tariff barriers to trade in goods, in accordance with the relevant WTO rules. The Decision covers the following topics:[3] As in 1997, when the Economic Partnership, Political Coordination and Cooperation Agreement (Global Agreement, in force since 2000) was concluded, Mexico and the European Union have written a new page in their history by negotiating the most advanced agreement of its kind. In addition to a strong section that adds new areas to the promotion of trade and investment, thus strengthening our trade and economic relations, it also includes political and cooperation aspects that Mexico and the European Union, as global players, will highlight for the good of their societies. 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 on Mexican products, such as orange juice, tuna, honey, agavendick juice, ovoalbumin and fruits and vegetables, among others, will be eliminated.

Sensitive products such as apples, peaches and dairy products have also been protected. This will benefit consumers while diversifying our exports. The Agreement was adopted by the Council of the European Union on 28 September 2000 following notification by the parties of the conclusion of the procedures necessary for the entry into force of the Agreement and entered into force on 1 October 2000. On 30 May 2016, Mexico and the European Union officially began talks to update their current free trade agreement. The first round of negotiations on the modernisation of the agreement was held in Brussels, Belgium, on 13 and 14 June 2016. The second round of negotiations on the modernisation of the agreement was held in Mexico City from 22 to 25 November 2016. On 28 April 2020, the EU and Mexico concluded the final outstanding element of the negotiations on their new trade agreement, namely the exact extent of mutual procurement to public procurement at the subcentric level. The Economic Partnership, Political Coordination and Cooperation Agreement (Global Agreement), which defines the objectives and mechanisms for liberalising trade in goods and services, was approved by the Mexican Senate on 20 March 2000 and on 6 May 1999 by the European Parliament. The part of the Free Trade Agreement established by Decision 2/2000 of the EU-Mexico Joint Council entered into force on 1 July 2000. The conclusion of this new agreement between Mexico and the European Union sends a strong message to the world about the importance of keeping markets open, cooperating multilaterally to address our global challenges, and cooperating to address the concerns of humanity.

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