Eu Mexico Trade Agreement 2018

Phil Hogan, Commissioner for Agriculture, welcomed the agreement: « This agreement once again demonstrates the value of the EU, which leads a global way in promoting open and rules-based trade…. This agreement is very positive for our agri-food sector and creates new export opportunities for our high-quality food and beverage products, which in turn will create more jobs and growth, especially in rural areas. The Economic Partnership, Political Coordination and Cooperation Agreement (Comprehensive Agreement), which sets out the objectives and mechanisms for liberalising trade in goods and services, was approved by the Mexican Senate on 20 March 2000 and by the European Parliament on 6 May 1999. The EU and Mexico have updated a trade agreement reached 21 years ago. Photo: Bloomberg The agreement comes just a few months after the EU`s major trade agreements with Canada, Singapore and Japan, and talks with Mercosur (Brazil, Uruguay, Argentina and Paraguay) are about to conclude. It sends a strong signal to Washington that the threat of a trade war over steel and aluminum is prompting U.S. allies to intensify their attempts to open markets rather than shut them down, which U.S. exporters see as crucial. The interim agreement, which was to be in force until the comprehensive agreement came into force, was approved by the Mexican Senate on 23 April 1998. The proceeds of this agreement were approved by the European Parliament on 13 May 1998 and the parties exchanged instruments for ratification on 30 June 1998, allowing the interim agreement on accompanying and accompanying measures to enter into force on 1 July 1998. On 21 April, the European Union (EU) and Mexico announced that they had reached an agreement in principle to modernise the 2000 EU-Mexico free trade agreement. The new agreement will replace a previous agreement between the EU and Mexico in 2000.

The tentative agreement with Mexico follows an agreement reached last year with Japan and comes ahead of next week`s talks with the Mercosur bloc of Argentina, Brazil, Paraguay and Uruguay. The eighth round of negotiations took place in Mexico City from 8 to 7 January 2018. The ninth round of negotiations began on 12 February 2018 in Mexico City. On 21 April 2018, Mexico and the European Union concluded negotiations for a new global agreement. The new agreement includes political, economic and cooperative aspects to strengthen political dialogue, boost trade and investment and strengthen technical and scientific cooperation between the two sides. Total trade between the EU and Mexico amounts to 62 billion euros for goods (2017) and 15 billion euros for services (2016). Exports of EU goods to Mexico amounted to 38 billion euros in 2017 and an additional 10 billion euros for services (2016). Currently, 400,000 jobs in the EU are linked, in one way or another, to EU exports to Mexico. The agreement-in-principle follows the eighth and ninth rounds of negotiations earlier this year, during which a number of areas were concluded, including competition policy, small and medium-sized enterprises, transparency, health and plant health policy issues, regulatory practices, the environment, technical barriers to trade, state-owned enterprises, subsidies , the fight against corruption and trade in services. Mexico and the EU have agreed to speed up trade negotiations to modernise their free trade agreement.

They will hold two additional rounds of negotiations on April 3 and 7 and June 26-29, 2017, as part of an accelerated negotiating plan. According to the European Commission, the new agreement ultimately means that 99% of the products will be exchanged duty-free between the two parties and that 98% of the products will no longer be subject to tariffs after the agreement comes into force. For other products, including exports of milk and meat on both sides, tariffs will be eliminated over time or for a limited amount to be defined as a quota. In concrete terms, a joint committee of the interim agreement was set up on 14 July 1998 and negotiations were initiated

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