The President of Mexico, Claudia Sheinbaum, reported in a morning press conference from Palacio Nacional that an agreement has not yet been reached in the modernization of the trade treaty with the European Union (EU). She highlighted that one of the fundamental points in the negotiations is that the energy chapter has been eliminated, considering that this is of utmost importance for Mexico in terms of sovereignty.
Sheinbaum emphasized the relevance of maintaining trade agreements with other countries, but stressed that the priority of her government is to promote domestic production through the Mexico Plan. In this regard, the trade agreement with Europe is being reviewed, which is in an advanced stage of development, despite the European Commission recently announcing the successful conclusion of talks to modernize the Global Agreement, following a dialogue between the European Commissioner for Trade and the Mexican Secretary of Economy.
In a statement, the European Commission reported that the modernization of the agreement aims to enhance political dialogue, economic cooperation, and relations between the EU and Mexico, generating new trade opportunities for both parties, while also establishing a common aspiration to promote human rights, multilateralism, and international peace. The importance of strategic cooperation in key areas such as supply chain security, sustainable supply of raw materials, and the fight against climate change was mentioned.
According to EU data, trade between the Twenty-Seven and Mexico reached 82 billion euros in goods in 2023 and 22 billion in services in 2022, consolidating Mexico as the second largest trading partner of the EU in Latin America. Sheinbaum reiterated that, although progress has been made in the negotiations, the agreement with the European Union has not yet been finalized, thus marking Mexico's official position regarding the recent statement from the European Commission about the conclusion of the talks.
