With the economy growth recovery after the global sanitary emergency forced by COVID-19, on April 28 the government of Mexico, through the Ministry of Economy, announced via press release the conclusion of the negotiation to modernize the existing trade agreement with the European Union.
The current one (that has been in application for approximately a decade) has undertaken modifications and updates. In a globalized environment, it is essential to maintain trade agreements updated with potential economies and the emerging ones, in order to innovate and impulse the growth in new sectors such as sustainable development, energy and also improving transparency in processes, and the promotion of small and medium business.
Through the conference call held by the Mexican economy minister Graciela Márquez and the European Union trade commissioner, Phil Hogan, where the conclusion of the negotiation started back in 2016 was confirmed and according to the official statement from the ministry of economy, the next steps will be, the legal review and the approval by the every legislature, as the signing of the new agreement and the translation into the different languages of the European Union.
With the signing of this agreement, Mexico is consolidated as the third commercial partner of Europe after the United States and China. More information available here.
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