On 17 January 2025, the European Commission announced the conclusion of additional negotiations on a modernised trade pillar of a broader update of the 1997 EU-Mexico Economic Partnership, Political Coordination and Co-operation Agreement ('the Global Agreement') to take into account Mexico's recent energy sector reforms. A first agreement in principle was reached on 21 April 2018, which in turn was complemented by an agreement on 28 April 2020 on the scope of the reciprocal opening of public procurement markets. The trade pillar of the Global Agreement was the first trade liberalisation agreement the EU concluded with a Latin American country. It has contributed to a significant increase in EU Mexico trade in services and industrial goods. However, it has become outdated, as both parties have entered into a wide range of preferential trade agreements with other partners with state-of-the-art provisions reflecting new developments in trade and investment policies. Removing non-tariff barriers to trade, and liberalising trade in agricultural goods would allow the EU and Mexico to enhance their competitive edge in each other's markets. After the modernised Global Agreement's legal review and translation into all official languages, the European Commission will submit to the Council proposals for Council decisions on its signature and conclusion. These will set out the agreement's legal architecture and its ratification pathway. Third edition. The 'International Agreements in Progress' briefings are updated at key stages throughout the process, from initial discussions through to ratification. The previous edition was published in October 2020. Source : © European Union, 2025 - EP Read more