In Mexico, elections were held in which the first female president was elected on October 1, obtaining a large majority that allows her to consolidate Mexico as a key player on the international stage. One of Mexico's most important trade agreements is with the European Union, negotiated in the late 1990s and in force since July 1, 2000.
Modernizing this agreement is crucial to strengthening bilateral economic ties and attracting European investments to the country. Negotiations to update the pact began 15 years ago and a preliminary agreement was recently reached in just 18 months. Mexico has signed free trade agreements with countries such as the Andean states and Central America, while the Mexico-European Union Chamber of Commerce (MexChamEU) has worked to encourage European investors to take advantage of opportunities in Mexico and vice versa.
The arrival of a former foreign minister to the Ministry of Economy of Mexico, Marcelo Ebrard, will bring an international perspective to trade relations, especially with Europe. The Mexican government has worked closely with the European Commission on cooperation projects such as the Sonora Plan and the Interoceanic Corridor of the Isthmus of Tehuantepec.
The European Union is the second largest foreign investor in Mexico and shares values and visions with the country. The key to the pragmatic approach adopted in negotiations with the EU is based on the uncertainty generated by political changes in the United States. The protection of geographical indications has been a relevant topic in the negotiations, thanks to a previous agreement with the European Commission.
The modernization of the trade agreement between Mexico and the EU has been a long and complex process but is fundamental to strengthening economic and trade ties between both parties. Pragmatism and mutual understanding have been pillars in the negotiations, generating certainty and encouraging investors to take advantage of the opportunities provided by both economies.
