The European Union and Mexico have reached an “agreement in principle” on the main trade parties of a new eu-Mexico association agreement. The new agreement replaces a previous agreement between the EU and Mexico in 2000. “The economic, social and political differences between the EU and Mexico represent the comparative advantages of each party for the mutually beneficial trade in goods and services,” Dirk De Biévre, professor of international politics and chair of the department of political science at the University of Antwerp, told World Finance. “These differences make them complementary savings that create the conditions to take advantage of trade facilitation and the stabilization of mutual expectations that a trade agreement can offer.” 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 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 covers trade in all fish and other seafood (Article 4 and Appendix III).
EFTA states grant duty-free access to imports of all Mexican fisheries products. Mexico maintains tariffs on a limited number of products of lesser economic importance to EFTA states. Nevertheless, parties reaching an agreement should be allowed to feel at least one moment of pride for the culmination of their efforts. This is probably the current feeling of the EU and Mexico, after four years of negotiations, when they concluded a new trade agreement in April. The agreement makes almost all goods exchanged between the two parties duty-free, but that does not mean that all differences of opinion have been put to bed. In May 2015, Mexico`s Economy Minister and the European Commission`s Trade Commissioner met to prepare to modernise the trade part of the global agreement between Mexico and the European Union. Given that the agreement between the United States, Mexico – the agreement that replaced Nafta on 1 July – offers less favourable terms than mexico previously enjoyed, the signing of a new agreement with the EU is timely. In April 2018, the EU and Mexico reached an “agreement in principle” on the trade side of a modernised global agreement between the EU and Mexico. The new agreement will replace a previous agreement between the EU and Mexico in 2000.
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 interim agreement on accompanying measures (called the “interim agreement”) which was the framework and mechanisms for trade liberalization and a final act.