EU Approves New Trade Agreements With Mexico To Expand Market Access
The Council of the European Union has approved two agreements aimed at strengthening political cooperation and expanding trade relations between the European Union and Mexico, marking a major upgrade of the bilateral partnership framework established in 2000.
The Council adopted decisions authorising the signing of the Political, Economic and Cooperation Strategic Partnership Agreement, known as the Modernised Global Agreement (MGA), along with an Interim Trade Agreement (iTA), which will allow trade-related provisions to take effect earlier.
The new agreements are expected to improve market access, boost investment flows and deepen cooperation across sectors including manufacturing, machinery, pharmaceuticals, transport equipment, digital trade and sustainable development.
According to the EU, the trade pact will benefit more than 45,000 European companies exporting to Mexico, the majority of them small and medium enterprises.
The Interim Trade Agreement will remove most remaining customs duties, expand access to public procurement markets and create new opportunities in services and investment. The agreement also includes provisions on customs facilitation, intellectual property protection, digital trade, competition policy and critical raw materials cooperation.
The trade framework additionally strengthens commitments related to labour rights, environmental standards and climate action through a dedicated sustainable development chapter.
The Modernised Global Agreement establishes a broader legal and institutional framework for political dialogue and cooperation between the two sides. It covers areas such as security, justice, climate change, digital transformation, anti-corruption measures and human rights.
The agreement also reaffirms shared commitments to democracy, rule of law and a rules-based multilateral trading system, while introducing mechanisms for civil society participation and regular high-level dialogue.
Michael Damianos, Minister for Energy, Commerce and Industry of Cyprus, said the agreements represent an important step in diversifying the EU’s global trade partnerships amid rising geopolitical uncertainty and protectionist pressures.
Before entering into force, the agreements will require approval from the European Parliament. The Modernised Global Agreement will also need ratification by all EU member states, while the Interim Trade Agreement can be implemented without national ratification as it falls under the EU’s exclusive trade competence.
