27. September 2021 · Comments Off on Mexico Trade Agreement With Eu · Categories: Uncategorized

“The new type of commitments signed by the EU and Mexico ensures stability and credibility on which investors and exporters can reliably base their long-term investment and distribution decisions,” said De Bièvre. “There is political and legal certainty – an asset that is now very rare in the United States. For Mexico, this type of stable and deep trade relationship with one of the three main players in international trade policy, the EU, is an important insurance policy. Given that the agreement between the United States, Mexico and Canada – the agreement that replaced NAFTA on July 1 – offers less favourable terms than before for Mexico, the signing of a new agreement with the EU came at a good time. The conclusion of this new agreement between Mexico and the European Union sends a strong message to the world on the importance of keeping markets open, cooperating multilaterally to address our global challenges and cooperating to address the concerns of humanity. The EU and I, Mexico, are currently the EU`s largest trading partner in Latin America, while only the US and Canada trade more goods with Mexico than the 27-member bloc. Despite the great distance and cultural differences between the two sides, there are already some economic ties between the EU and Mexico: merchandise trade alone increased by 148% between 2000, when the initial trade agreement between the two countries entered into force and 2018. But the general incentives deScribed by De Bièvre are generally insufficient to encourage exporters, trade sectors and authorities on both sides to invest in laborious one-year trade negotiations. Additional political incentives must give this general idea a final boost. The current update of the EU-Mexico Agreement has been prompted to deepen and consolidate engagement. Trade statistics and details of the existing trade agreement This results in more liberal rules in sectors where both parties face a shortage of raw materials or components (e.g. B for automotive chemicals, machinery and spare parts). In the textile and clothing sector, Mexico allocates to the EFTA countries quotas for imports of textile and clothing products into Mexico under a more liberal regime (Annex I, Appendix 2, point (a)).

The Agreement applies to trade in fish and other seafood products (Articles 4 and III). .

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