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Mexico

In May 2016, the EU and Mexico launched the negotiations to modernize the Global Agreement, including rules on trade. The third round of these talks happened in April in Brussels.

The Global Agreement entered into force in 1997 and sets out the rules on trade between the EU and Mexico. The agreement includes trade rules that were later developed into the current comprehensive Free Trade Agreement that entered into force in October 2000. The trade in goods part was immediately applied while trade in services followed in 2001.

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See how the EU-Mexico trade agreement benefits companies and communities across the EU

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Better Regulation Agenda

Modernisation of the trade pillar of the EU-Mexico global agreement

Trade picture

  • The EU is Mexico's third-largest trading partner after the US and China. Nearly 8% of Mexico's total trade took place with the EU in 2016.
  • In 2016 the EU was Mexico's second-biggest export market after the US.
  • The EU was Mexico's third-largest source of imports in 2016, after the United States and China. Key EU exports to Mexico include other machinery, transport equipment, chemical products, and fuels and mining products.
  • The EU's key imports from Mexico are fuels and mining products, office and telecommunication equipment, transport equipment, and other machinery.
  • In terms of services EU imports from Mexico are dominated by travel services, and transport services. EU services exports to Mexico consist mainly of transport services, and telecommunications, computer and information services.

EU-Mexico: Trade in goods

Trade in goods 2014-2016, € billions
Year EU imports EU exports Balance
2014 18.0 28.4 10.4
2015 19.5 33.6 14.1
2016 19.8 33.9 14.1

EU-Mexico: Trade in services

Trade in services 2013-2015, € billions
Year EU imports EU exports Balance
2013 3.7 7.9 4.2
2014 4.0 8.3 4.3
2015 5.0 9.4 4.4

EU-Mexico: Foreign direct investment

Foreign direct investment 2015, € billions
Year Inward stocks Outward stocks Balance
2015 35.4 161.6 126.3

Date of retrieval: 15/02/2017

More statistics on Mexico

EU and Mexico

Modernising the EU-Mexico Global Agreement

Since the EU and Mexico signed the Global Agreement, the European Union has had 13 new members, gradually deepened its internal Single Market and launched a single currency.

Mexico has become one of the world's most dynamic emerging economies, with Gross Domestic Products (GDP) per capita up almost 20% in real terms since 2000.

During the EU-CELAC (Community of Latin American and Caribbean States) Summit of 2013 the EU and Mexico agreed to check how to update to the Global Agreement. The EU-Mexico Joint Working Group was established and finished its work in June 2015. In parallel, the EU carried out an impact assessment which revealed the gains that could be expected through the modernisation of the Global Agreement.

The negotiations were launched on 25 May 2016, with the first round of of negotiations following in June of that year. . The most recent round took place in April 2017 in Brussels.

Any additional textual proposals that will be sent to Mexico in the future will be made public shortly thereafter.

Trading with Mexico