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Mexico–European Union relations

 

Mexico–European Union relations

EU-Mexican relations
Map indicating locations of European Union and Mexico

European Union

Mexico

Mexico has had a free trade agreement with the European Union (EU) since 2000 and the two benefit from high investment flows.[1]

Contents

  • Agreements 1
  • Trade 2
  • References 3
  • External links 4

Agreements

In 1997, Mexico was the first country in Latin America to sign a partnership agreement with the EU. The "EU-Mexico Economic Partnership, Political Coordination and Cooperation Agreement" entered into force in 2000 and established a free trade area (FTA) between the two parties (see trade section below). It also establishes regular high-level contact between the EU and Mexico and acted as a catalyst for increased investment flows.[1]

Trade

The EU is Mexico's second largest export market (after the US) and Mexico is the EU's 18th export partner. Mexico's main exports to the EU are mineral products, machinery, electrical and transport equipment and optical photo precision instruments. EU exports to Mexico consist of machinery, electrical equipment, transport equipment, chemicals and minerals. In terms of services, Mexico exports travel/transport and construction services. The EU exports travel/transport and computer services.[2]

The two have a broad and comprehensive FTA which entered into force in October 2000. It covers goods, services, public procurement, competition, intellectual property and investment. iBilateranvestment flows are significant. A joint committee and special committees meet once a year and a joint council meets biannually.[2]

EU – Mexican trade in 2008[2]
Direction of trade Goods Services Investment flow Investment stocks
EU to Mexico €15.9 billion €4.8 billion €5.6 billion €49 billion
Mexico to EU €9.9 billion unknown €0.9 billion €11.4 billion

References

  1. ^ a b Mexico (United Mexican States), European External Action Service
  2. ^ a b c Bilateral relations Argentina, European Commission

External links

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