The INTA committee concluded that the time is ripe to revamp our trade relations with Mexico
Committee Chair Bernd Lange who was in Mexico said: “This visit reinforces our conviction on the merits of deepening EU-Mexico trade relations. Mexico and the EU have both changed a lot since the last agreement entered into force 17 years ago. The time is ripe to revamp our trade relations. The current economic and geopolitical circumstances add further weight to the need for an overhauled agreement. There is strong convergence and backing to bring the EU and Mexican economies closer together. Negotiations can and should proceed speedily with the aim of being concluded as soon as possible. The European Parliament is particularly keen to ensure that a strong trade and sustainable development chapter is included and that measures foresee respect for human rights, fight against corruption, transparency, respect for all core labour conventions, consumer protection and respect for the environment. We have also brought to the table issues beyond market access, such as the question of Geographical Indications, energy and public procurement at sub-federal level.”
Trade relations between the EU and Mexico are governed by a Free Trade Agreement (FTA) that entered into force in 2000. In May 2016, the EU and Mexico started negotiations to update the deal to keep pace with changing global trade patterns and other agreements that they have negotiated lately. Between 2005 and 2015, the yearly trade flow of goods between the two partners more than doubled (from €26 billion to €53 billion). As part of an accelerated schedule, the EU and Mexico will hold two additional negotiating rounds before the summer (3-7 April and 26-29 June). The INTA Committee will closely monitor these negotiations.