EU Parliament clears modernised EU-Mexico trade pact

The European Parliament has approved the modernised EU-Mexico Global Agreement (MGA) and an interim trade agreement (iTA), paving the way for stronger political ties and expanded trade between the two partners. The MGA was endorsed by 479 votes to 119, while the iTA passed with 474 votes to 131.The agreements will replace the existing 2000 framework, expanding market access, supporting sustainable development, strengthening anti-corruption measures, and improving protection for intellectual property and geographical indications. The interim trade agreement will allow updated trade provisions to take effect, before the full MGA is ratified by all EU member states and Mexico.

The European Parliament has approved the modernised EU-Mexico Global Agreement and an interim trade agreement to strengthen political ties and expand trade.
The deals improve market access, public procurement opportunities and IP protection, while supporting sustainable development.
The interim trade pact will take effect before full ratification of the broader agreement.

MEPs said the partnership is strategically important for promoting a rules-based international order, democratic governance, human rights and multilateral co-operation. They also highlighted unprecedented access for EU firms to public procurement markets in 14 Mexican states, while encouraging broader access across the country and greater consideration of environmental and social criteria in procurement.

The Council will now formally conclude both agreements. The interim trade agreement will enter into force after both sides complete their internal procedures, while the MGA will take full effect once ratified by all EU member states and Mexico.

Mexico is the EU’s second-largest trading partner in Latin America, while the EU is Mexico’s third-largest trading partner and second-largest export market after the United States.

Fibre2Fashion News Desk (CG)