Mexico
Mexico, officially the United Mexican States, is a country in North America. It is the northernmost country in Latin America, and borders the United States to the north, and Guatemala and Belize to the southeast; while having maritime boundar ...
and the
European Economic Community
The European Economic Community (EEC) was a regional organisation created by the Treaty of Rome of 1957,Today the largely rewritten treaty continues in force as the ''Treaty on the functioning of the European Union'', as renamed by the Lisbo ...
(EEC) signed an agreement intending to foster economic and trade relations on 15 July 1975. Mexico and the
European Union
The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the European Union, member states that are Geography of the European Union, located primarily in Europe. The u ...
(EU) have had a free trade agreement since 2000 and the two benefit from high investment flows.
Agreements
In 1997, Mexico was the first country in
Latin America
Latin America is the cultural region of the Americas where Romance languages are predominantly spoken, primarily Spanish language, Spanish and Portuguese language, Portuguese. Latin America is defined according to cultural identity, not geogr ...
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
A free trade area is the region encompassing a trade bloc whose member countries have signed a free trade agreement (FTA). Such agreements involve cooperation between at least two countries to reduce trade barriers, import quotas and tariffs, and ...
(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 (United Mexican States)](_blank)
European External Action Service
Mexico and the EU reached a new
agreement in principle
In law, an agreement in principle is a stepping stone to a contract. Such agreements with regard to the principle are usually considered fair and equitable. Even if not all details are known, an ''agreement in principle'' may, for example, outline ...
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.
On 28 April 2020, the EU and Mexico concluded the last outstanding element of the negotiation of their new trade agreement and agreed on the exact scope of the reciprocal opening of public procurement markets and a high level of predictability and transparency in public procurement processes. With this, the EU and Mexico can advance to the signature and ratification of this agreement in line with their respective rules and procedures.
Trade
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.
[Bilateral relations Argentina](_blank)
European Commission
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.
Mexico's foreign relations with EU member states
See also
*
Foreign relations of the European Union
Although there has been a large degree of integration between European Union member states, foreign relations is still a largely intergovernmental matter, with the 27 states controlling their own relations to a large degree. However, with ...
*
Foreign relations of Mexico
References
{{DEFAULTSORT:Mexico-European Union relations
European Union
The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the European Union, member states that are Geography of the European Union, located primarily in Europe. The u ...
Third-country relations of the European Union