EU-Mexico Global Agreement
On January 17, 2025, the European Union (EU) and Mexico celebrated a new global agreement. This deal aims to improve trade, sustainability, and economic growth. It updates the old EU-Mexico agreement from 2000, bringing new opportunities for businesses and addressing issues such as climate change and economic development. Here’s how this agreement will shape the future of trade and sustainability between the EU and Mexico.
In this blog we will go through the following topics:
EU-Mexico Global Agreement: Easier Trade and Customs
The agreement makes trade and customs processes simpler. By removing 95% of tariffs on EU food exports such as cheese, wine, and pork, EU businesses can now sell more easily in Mexico. This creates a more dynamic trading environment, boosting exports and creating more value in Mexico.
EU companies will also have more opportunities to join Mexican government projects. The agreement makes it easier for European businesses to apply for government contracts, increasing competition and promoting teamwork between the two regions.
EU-Mexico Global Agreement: Supply Chains
The agreement focuses on securing supply chains, which is important for businesses needing raw materials for green and digital projects. Materials like fluorspar and zinc, essential for renewable energy and digital technology, will be easier to obtain.
The agreement also offers stronger protections for investments and services across borders, especially in the transport and telecom sectors. With better security for business operations, EU and Mexican companies can build long-term partnerships with confidence.
Sustainability at the core
Sustainability is a key focus of the agreement. It introduces legally binding provisions on environmental protection, labour rights, and sustainable management of fisheries and forests. These commitments align with global sustainability goals, ensuring that economic growth is environmentally responsible and socially fair.
The agreement also includes measures to combat biodiversity loss, improve animal welfare, and promote responsible business practices. This ensures that both Mexico and the EU contribute to global efforts to protect the environment while fostering sustainable economic growth.
Economic Impact: Stronger Trade Relations
The economic impact of this agreement is significant. In 2023, trade between the EU and Mexico reached €82 billion, highlighting Mexico’s importance as a key trading partner for the EU. With this new agreement, trade is expected to grow even more, offering new opportunities for businesses to thrive.
Reducing tariffs, improving access to raw materials, and enhancing protections for investments all contribute to a better business environment. This agreement sets the stage for strong economic ties between the EU and Mexico for many years.
How Customs Complete Can Help
At Customs Complete, we understand that the new EU-Mexico agreement brings significant changes to trade procedures and customs processes. Our team is here to guide businesses through these changes, ensuring compliance and maximizing new opportunities. opportunities.
