The EU and Mexico have taken a major step forward in their partnership by signing the Modernised Global Agreement (MGA) and interim Trade Agreement (iTA).
At the 8th EU-Mexico Summit in Mexico City, both sides agreed to deepen their political and economic cooperation at a time of growing global uncertainty.
The EU was represented by President of the European Commission Ursula von der Leyen, President of the European Council António Costa, High Representative for Foreign Affairs and Security Policy Kaja Kallas, and Commissioner for Trade and Economic Security Maroš Šefčovič.
The Agreements will help strengthen political dialogue and cooperation between the EU and Mexico, creating opportunities in areas such as trade, investment and clean technologies, while reinforcing supply chains and supporting climate goals.
They also create new opportunities for businesses on both sides, including for the agri-food sector, in one of the EU's most strategic partners in Latin America.
President von der Leyen said, “The EU and Mexico are committed to a close strategic partnership. Today's modernised Agreements set out our shared vision of the future and will deliver many benefits for both sides. We will boost trade and investment to support jobs and growth, and cooperate across a range of policy areas. Together we will shape a better future for our citizens and the planet, by finding common ground on upholding global institutions, driving clean growth, and promoting human rights and gender equality.”
A shared commitment to multilateralism and global institutions
The Summit reaffirmed a joint EU-Mexico commitment to multilateralism and the rules-based international order. As likeminded partners in multilateral fora, both parties emphasised the vital importance of international cooperation in tackling global challenges. The leaders pledged to coordinate closely on the promotion of peace and security, the reform of global governance institutions and the defence of human rights.
At the Summit, the EU and Mexico also reaffirmed their roles as pivotal drivers of the EU–Community of Latin American and Caribbean States (CELAC) bi-regional relationship.
In light of growing global challenges, Mexico and the EU agreed to establish a Strategic Dialogue at ministerial level, as a permanent mechanism for consultation and coordination on international and regional issues of common interest.
Promoting trade and economic security
The EU and Mexico have a strong, long-standing trade relationship, already worth €100 billion a year in goods and services. The modernised Agreement will boost this further by making it easier to export and invest in each other's markets, as it creates:Increased opportunities for the EU agricultural sector, considering that Mexico is a net food importer with high tariffs.
Under the New Agreement
- Mexico will protect 232 spirits and an additional 336 European Geographical Indications on wines, beers and food;
- Stronger cooperation on the green and digital transitions, strengthening supply chains on critical raw materials;
- New possibilities for EU businesses to bid for Mexican government contracts on an equal footing with Mexican firms;
- New opportunities for services exports in key areas such as financial services, maritime transport, digital and professional services;
- Simpler rules for businesses, and increased regulatory cooperation between the EU and Mexico;
- Fewer barriers in e-commerce and increased cooperation in the digital field; and
- Reinforced rules to protect intellectual property rights and creators.
At the Business Forum that took place in the margins of the Summit, both sides discussed future cooperation, including ways to unlock new opportunities in advanced technologies, digital trade, and creating a business environment fit for the clean transition.
Shared work to promote sustainability and human rights
The Agreement is set to promote sustainable development both in Europe and in Mexico, as it features -
- Legally binding commitments on labour rights, environmental protection, climate change and responsible business conduct;
- A Joint Declaration on Trade and Gender Equality reaffirming the shared commitment to advance women's economic empowerment and rights;
- A dispute settlement mechanism to enforce such commitments; and
- An active role for independent experts, civil society and international bodies to monitor the implementation of the Agreement.
Both sides signed a Joint Declaration on the Circular Economy aimed at addressing the triple planetary crisis of climate change, biodiversity loss and pollution – including plastic pollution – while strengthening economic resilience, competitiveness and sustainable job creation.
On the sidelines of the Summit, the EU and Mexico organised a joint event on "Empowering women for greater participation in trade". The event brought together key actors to identify ways to support women in benefitting from the opportunities opened up by the MGA and ITA, and the ‘Declaration on Trade and Gender Equality' contained in the Agreements.
Global Gateway Investment Agenda and future cooperation
The EU and Mexico reaffirmed their commitment to deepening the Global Gateway Investment Agenda as a central pillar of their strategic partnership. Through Global Gateway, the EU is supporting sustainable investments, decarbonisation, resilient value chains and inclusive economic growth in Mexico. The Summit confirmed the shared commitment of both partners to mutually beneficial partnership.
The Global Gateway Investment Agenda between the EU and Mexico facilitates more than €5 billion in European-supported investments across key sectors, including the energy transition, sustainable transport, health and pharmaceuticals, the circular economy, water and sanitation, sustainable agriculture, forests and biodiversity and digital connectivity. Moreover, European companies will also play a key role in the implementation of Plan Mexico's objectives on railway development, circular economy and green finance.
