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 agreement will make it easier for European and Mexican companies to invest in each other`s markets so that more Mexican companies invest in Europe or build their production in the EU. The agreement will make it easier for EU companies to sell their services to Mexico. The trade aspects of the Global Agreement were adopted by Decisions 2/2000 of the EU-Mexico Joint Council establishing a free trade area for goods and 2/2001, which establishes a free trade area for services. As a general rule, the agreement will prevent the EU or Mexico from discriminating against each other`s service providers. The agreement will be drawn up: trade statistics and details of the existing trade agreement On 14 July 1998, a joint committee of the interim agreement was set up and negotiations for a free trade agreement were initiated. 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 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. All industries that trade between Mexico and the EU will benefit directly or indirectly from the modernisation of this agreement. However, some sectors may benefit more, including: the aim of this agreement is to create a framework to promote the development of trade in goods and services and their bilateral and preferential sectors, progressive and reciprocal, taking into account the sensitivity of certain sectors of goods and services and in accordance with relevant WTO rules. The Joint Council is responsible for defining the modalities and timing of the liberalisation of tariffs and non-tariff barriers, in accordance with relevant WTO rules.