Mexico was the first country in LatAm to sign a global agreement with the EU, in 1997 which came into force three years later. This will be replaced by the new agreement.

Since then, trade between the EU and Mexico has risen 8% per year, resulting in a global increase of 148% in trade over the period.

Negotiations for this agreement started in May 2016. It covers all trade in goods between both parties, which will be now by duty-free, including agricultural sector products. In addition, simplified customs procedures will benefit industries, including pharmaceuticals, machinery and transport equipment.

The agreement also stipulates that both sides are committed to implementing their obligations under the Paris Agreement on climate change, with progressive rules to be followed on sustainable development.

It will also be the first EU trade agreement to include elements specifically drawn up to fight corruption, with measures to act against money laundering and bribery. The agreement also covers the protection of human rights, as well as chapters on political and development cooperation.

C.G.L.