We, the European Commissioner for Trade and Economic Security and the Mexican Secretary of Economy, are pleased to announce the successful conclusion of negotiations on the modernization of the Global Agreement with Mexico. This agreement provides a framework for cooperation, trade, investment, and political dialogue between Mexico and the EU.
Through this modernization, we reaffirm our commitment to strong strategic collaboration and promoting shared values such as democracy and the rule of law. The agreement gives new impetus to our commercial relationship, providing better tools for global challenges.
This new agreement reflects our determination to advance joint efforts in areas such as sustainable development and climate action. It also confirms our desire to collaborate on global issues of common interest.
The EU and Mexico enjoy a strong trade and investment relationship valued at over 80 billion euros annually. By strengthening this partnership, we create new opportunities for businesses, especially small and medium-sized enterprises (SMEs), and consumers. This contributes to a more prosperous and resilient economy for both Europeans and Mexicans. The agreement will also enhance economic security by strengthening and diversifying supply chains and supporting green and digital transitions.
The EU and Mexico will now proceed with the respective internal procedures for signing and ratification.