EU-Mexico Interim Agreement on Trade

The European Parliament adopted by 474 votes to 131, with 60 abstentions, a legislative resolution on the draft Council decision on the conclusion of the Interim Agreement on Trade between the European Union and the United Mexican States.

Parliament gave its consent to the conclusion of the agreement.

The modernisation of the existing EU-Mexico Global Agreement revolves around two legal instruments:

1. The Political, Economic and Cooperation Strategic Partnership Agreement (Modernised Global Agreement (MGA)), which will include a) the political and cooperation pillar and b) the trade and investment pillar (inclusive of investment protection provisions); and

2. This Interim Agreement on Trade (ITA) covering trade and investment liberalisation.

The Inter-Mexico Agreement (IMA) expands the scope of the existing bilateral framework and adjusts it to new global political and economic challenges, to the new reality of the EU-Mexico partnership, and to the ambitious level of recently concluded trade agreements and ongoing negotiations between the EU and Mexico.

The MGA creates a coherent, comprehensive, up-to-date and legally binding framework for the EU’s relations with Mexico. It will foster trade and investment by contributing to the expansion and diversification of economic and trade relations.

In accordance with the objectives set out in the negotiating guidelines, the ITA will strive to achieve the following goals:

- ensure significant market access for agricultural and fisheries exports and to improve regulations,

- simplify the rules of origin,

- modernise and simplify border procedures,

- ensure fair trade and business conditions,

- strengthen trade and investment in critical raw materials,

- ensure sustainability and gender equality,

- focus on the needs of smaller businesses,

- offer opportunities to service providers and establish rules governing digital commerce,

- encourage investment,

- provide access to Mexican public tenders,

- establish better protection for innovations and creations,

- ensure transparency and good regulatory practices,

- implement modern procedures for settling disputes between States.