Last month, the European Commission invited comments on its plans to enter into negotiations to update the EU-Mexico free trade agreement (FTA).
Now, as part of its commitment for a more transparent trade policy, it has published six initial European proposals for modernising various elements of the agreement. It has also made available a report on the round of talks that took place in Mexico between 22 and 25 November.
All these documents can be found at theEuropean Commission website.
EU Trade Commissioner Cecilia Malmström explained: “Sixteen years have passed since the current EU-Mexico became effective. Today we need to adapt it to a new trade reality. We’ve had some good initial talks with our Mexican counterparts but to reach a good agreement we also need constructive engagement from interested parties.”
Since the existing EU-Mexico agreement entered into force in 2000, EU-Mexico trade in goods has increased by 180% and amounted to €53 billion in 2015.
The texts presented by the EU in the latest negotiations aim to increase participation of European companies in Mexican public tenders, and vice versa, and to increase co-operation on imports requirements related to food safety, plant and animal health.
The Commission is also keen to facilitate trade in energy products and raw materials and to define more flexible rules of origin (establishing what products can benefit from lower customs tariffs).
More generally, the proposals seek to reduce unnecessary regulatory barriers to trade and to increase the part of trade benefits that go to small companies.
