The European Commission announced, on Tuesday 28 April, the conclusion of negotiations to modernise the trade agreement between the European Union and its largest trading partner in Latin America, Mexico.
As announced by EUROPE last January, the submission of the annex listing the Mexican sub-federal entities that will open their public procurement markets to European companies sealed the end of the talks (see EUROPE 12406/3, 12155/24). Mexico's supply covers only 14 of the 32 federated states, but these account for 63% of Mexican GDP.
The details of this opening were finalised during a telephone call between Trade Commissioner Phil Hogan and Mexican Economy Minister Graciela Márquez Colín on the same day.
Under the new agreement, practically all trade in goods between the EU and Mexico will be duty-free. The Commission also emphasised the inclusion of provisions related to sustainable development, such as the implementation of the Paris Climate Agreement.
The 'legal cleaning' of texts can now be finalised before they are sent for translation into all EU languages. A decision will then have to be taken on the modalities of its signature and ratification.
Enthusiasm in the Parliament
Several political groups in the European Parliament applauded the news. “Even in times of crisis, we Europeans want to build bridges across the Atlantic and create open, fair and clear rules-based trade”, said Enikő Győri (EPP, Hungary).
Same for Renew Europe, where the Czech Dita Charanzová said: “We need to strengthen global rules-based free trade, have a fully functional WTO and continue to move forward with like-minded trading partners.
For the Chair of the Parliament’s Committee on International Trade, Bernd Lange, this agreement is “a strategic piece in the EU trade puzzle, given the US pressure”. “European Parliament scrutiny will come soon. No surprise: I will pay particular attention to sustainable development-commitments and their implementation”, Mr Lange added on Twitter. (Original version in French by Hermine Donceel)