The European Union and Mexico have reached a new agreement on trade, part of a broader, modernised EU-Mexico Global Agreement. Practically all trade in goods between the EU and Mexico will now be duty-free, including in the agricultural sector. Simpler customs procedures will further benefit the EU’s industry, including in sectors like pharmaceuticals, machinery and transport equipment. The agreement also lays down progressive rules on sustainable development.

Among other things, the EU and Mexico have committed to effectively implement their obligations under the Paris Agreement on climate change. It will also be the first EU trade agreement to tackle corruption in the private and public sectors. With this agreement, Mexico joins Canada, Japan and Singapore in the growing list of partners willing to work with the EU in defending open, fair and rules-based trade.

Since the previous EU-Mexico trade agreement came into force in 2000, trade between the EU and Mexico has risen at around eight per cent per year, resulting in an overall increase of 148 per cent in trade in goods over the period. Agricultural exports from the EU are set to benefit the most, such as poultry, cheese, chocolate, pasta, and pork. When it comes to customs procedures, the new agreement will bring in new rules to simplify and speed up paperwork and physical checks at Mexican customs.