Eu Mexico Agreement 2000
The EU-Mexico Agreement of 2000 is a bilateral trade agreement between the European Union (EU) and Mexico. The agreement aims to create a free trade area between the two economies, with the aim of reducing trade barriers and boosting economic growth.
The agreement covers a wide range of sectors, including agriculture, fisheries, industrial goods, and services. It also includes provisions related to intellectual property rights, investment, and competition policy.
One of the main benefits of the EU-Mexico Agreement of 2000 is the elimination of tariffs on goods traded between the EU and Mexico. This has led to increased trade in goods such as vehicles, pharmaceuticals, and chemicals.
The agreement also includes provisions related to services trade, such as increased access for EU companies to the Mexican market in areas such as telecommunications and financial services.
In addition to trade liberalization, the EU-Mexico Agreement of 2000 aims to promote sustainable development. The agreement includes provisions related to labor and environmental standards, as well as provisions that aim to support small and medium-sized enterprises.
Since the agreement was signed, the EU-Mexico trade relationship has grown significantly. In 2019, the EU was Mexico`s third-largest trading partner, with total trade between the two regions reaching €62.1 billion. The EU is also one of the largest investors in Mexico, with EU companies investing over €170 billion in the country.
The EU and Mexico are currently negotiating an updated version of the agreement, known as the EU-Mexico Global Agreement. The new agreement aims to further deepen economic ties between the two regions and address new challenges such as digital trade and climate change.
In conclusion, the EU-Mexico Agreement of 2000 has been instrumental in boosting trade and investment between the EU and Mexico. The agreement has led to increased economic growth and job creation in both regions, while also promoting sustainable development and social and environmental standards. As negotiations for an updated agreement continue, the relationship between the EU and Mexico is expected to grow even stronger in the years to come.