Today we have concluded a deal with Mexico! @ildefonsogv @PhilHoganEU . Modern and comprehensive FTA in less than two years. Good for our consumers and buisiness. EU and Mexico partners for sustainable, rule based trade— Cecilia Malmström (@MalmstromEU) April 21, 2018
The Agreement has to be approved in the EU Council and the European Parliament to come into force.
The Agreement is aimed at the reduction of the dependence of the European trade on the U.S. protectionist barriers (including on steel and aluminum) continuing the policy of the bilateral agreements, the one with Japan in particular. The EU is conducting talks on such agreements with Argentina, Brazil, Paraguay and Uruguay.
Such deal was made between Brussels and Mexico 21 years ago in 1997, which concerned manufactured goods. Both parties intend to modify the agreements by adding agricultural production, service, food supplies, and to synchronize the standards of the labour legislation and the laws related to the environment preservation.