The European Parliament has given its consent to the modernized EU-Mexico Partnership Agreement and the interim Trade Agreement. Renew Europe strongly supported both texts, which upgrade a global agreement dating back to 2000, with a reliable partner with whom the EU shares a long-standing commitment to multilateralism, open trade and international cooperation. The agreement rests on two pillars. The political, economic and cooperation strategic partnership deepens dialogue on democracy, human rights, the rule of law and global challenges, at a time when multilateralism and the rules-based order are under pressure. In an increasingly fragmented global economy, closer cooperation with Mexico strengthens Europe’s economic resilience, diversifies supply chains and reinforces partnerships with countries committed to international law and rules-based trade.
The interim trade agreement modernises a 25-year-old trade arrangement and will deliver concrete benefits for European industry, services and agriculture. Some 630,000 European jobs already depend on EU exports to Mexico. The modernised framework could increase EU exports by up to 75%, saving European companies around 100 million € a year in customs duties. It eliminates most of the remaining tariffs, including 95% of high Mexican tariffs on key agri-food products, protects 568 European geographical indications from imitation, opens Mexican public procurement to EU companies and secures 209 billion € in European investments.
“The agreements will create additional opportunities for European companies and the economy as a whole. Respect for human rights and the rule of law will also be an important focus,” said Urmas Paet (Eesti Reformierakond, Estonia), Renew shadow for the AFET committee. The agreement includes commitments to the Paris Agreement while providing opportunities to further enhance its environmental ambition. Renew Europe therefore welcomes the Mexican President’s commitment to a targeted review to raise the agreement’s environmental ambition within a year of its entry into force – and will follow this closely. “In an increasingly protectionist world, fighting for freer trade is fighting for a stronger Europe. Today we won that fight for the Mexico agreement, now let’s win many more”, concluded Joao Cotrim de Figueiredo (Iniciativa Liberal, Portugal), Renew shadow for the INTA committee.
