EU and Mexico celebrate 20 years of partnership - joint press release
Mexico | Brussels, 23 October 2020
This year, the EU and Mexico celebrate the 20th anniversary of the entry into force of their Economic Partnership, Political Coordination and Cooperation Agreement, known as the Global Agreement, which establishes a free trade area and provides the legal framework for strengthening their economic and trade relations.
These twenty years are a sign of the importance of the economic relationship between the two parties and of shared recognition as strategic partners. Mexico was the first Latin American country to establish an Association Agreement with the EU.
This agreement created market conditions and the institutional framework to provide investment certainty, thereby strengthening both markets.
We are at a historic moment in the trade relations between Mexico and the EU. To mark the 20th anniversary, on 22 October the Mexican government and the European Commission held the fourteenth meeting of the EU-Mexico Joint Committee on trade, which was co-chaired by Mexico’s Deputy Secretary for Foreign Trade, Luz María de la Mora, and the European Commission’s Deputy Director-General for Trade, Helena König.
During this meeting, both delegations reviewed the trade and investment agenda, including the impact of COVID-19 and the measures taken to mitigate its economic, social and health effects. They also reviewed the progress made in the work leading to the conclusion of the modernisation of the trade agreement between Mexico and the European Union, the negotiation of which was finalised in April this year.
The modernisation of the trade agreement will strengthen existing provisions and integrate new ones, maintaining its relevance as a key tool to further boost trade and investment in the twenty-first century. Its update also represents an opportunity for closer economic links between Mexico and the EU, given the current economic situation and the commercial trends linked to the use of new technologies.
With the modernisation and achievements of these 20 years, Mexico and the EU reaffirm their commitment to open trade, in the face of the challenges arising from the COVID-19 pandemic and protectionist impulses.
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