Current portal location

Website content

Countries and regions

Mexico

Mexico

The EU and Mexico reached an ‘agreement in principle’ on the trade part of a modernised EU-Mexico Global Agreement in April 2018. The new agreement will replace a previous agreement between the EU and Mexico from 2000.

The discussions are now focused on completing the technical details of the agreement; negotiators expect to have a final text in late 2018 before starting the legal revision of the agreement’s text (legal scrubbing).

Find out about all the different areas of the new EU-Mexico trade agreement

Better Regulation Agenda

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

Trade picture

  • In 2017 the EU was Mexico's second-biggest export market after the US. The EU's key imports from Mexico are fuels and mining products, office and telecommunication equipment, transport equipment, and other machinery.
  • The EU was Mexico's third-largest source of imports in 2017, after the US and China. Key EU exports to Mexico include other machinery, transport equipment, chemical products, and fuels and mining products.
  • 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 2015-2017, € billions
Year EU imports EU exports Balance
2015 19.5 33.6 14.1
2016 19.9 33.9 13.9
2017 23.8 37.9 14.1

EU-Mexico: Trade in services

Trade in services 2014-2016, € billions
Year EU imports EU exports Balance
2014 4.0 8.4 4.4
2015 4.9 9.7 4.8
2016 5.0 9.8 4.8

EU-Mexico: Foreign direct investment

Foreign direct investment 2016, € billions
Year Inward stocks Outward stocks Balance
2016 42.3 137.3 95.0

Date of retrieval: 16/04/2018

More statistics on Mexico

EU and Mexico

Modernising the EU-Mexico Global Agreement

In 1997 Mexico was the first country in Latin America to sign an Economic Partnership, Political Coordination and Cooperation Agreement (Global Agreement) with the EU.

This Agreement came into force in 2000 and covers political dialogue, trade relations and cooperation. The Global Agreement’s trade provisions were later developed into a comprehensive Free Trade Agreement covering trade in goods and trade in services, which came into force in October 2000 and 2001, respectively.

During the EU- Community of Latin American and Caribbean States Summit of 2013, leaders decided to explore the options for a comprehensive update of the Global Agreement.

The negotiations with Mexico started in May of 2016 and both sides reached an agreement in principle on the trade part in April 2018.

The new agreement, once ratified, will replace the existing EU-Mexico Global Agreement which entered into force in 2000.

Trading with Mexico