The European Commission has reported that good progress was made towards updating the European Union's free trade agreement (FTA) with Mexico in the recently concluded third round of negotiations.
According to the Commission, the aim of the round was to put on the table proposals
covering all negotiating areas and start to merge texts coming from both sides.
The EU proposals presented so far covered rules of origin, public procurement,
sanitary and phytosanitary measures, energy and raw materials, intellectual
property rights, and trade by small- and medium-sized businesses, the Commission
The existing comprehensive FTA between the EU and Mexico entered into force
for goods in 2000 and for services in 2001. The aim of the current negotiations,
says the Commission, is to adapt the FTA "to the reality of today's global
Both sides have committed to concluding the negotiations before the end of
EU Commissioner for Trade Cecilia Malmstrom is expected to travel to Mexico
in early May to ensure the momentum of the talks is maintained.
The EU is Mexico's third-largest trading partner after the US and China, and around
eight percent of Mexico's total trade took place with the EU in 2015.
The EU was also Mexico's third largest source of imports after the United States
and China, with EUR33.7bn (USD35.9bn) worth of goods imported in 2015. Key EU
exports to Mexico include other machinery, transport equipment, chemical products,
and fuels and mining products.
The EU imported EUR19.3bn worth of goods from Mexico in 2015. 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.