EU and Mexico agree to accelerate trade talks

On 1 February 2017 the European Commission released a press release concerning trade talks between the EU and Mexico. The two parties agreed to accelerate talks which will include two additional negotiating rounds to set up a new reformed Free Trade Agreement. In 2016 the EU and Mexico initiated negotiations to update the existing Free Trade Agreement (FTA) from 2000. Global trade patterns have changed substantially during the sixteen-year period, pointing to the need for a broader and more far-reaching FTA.

The purpose of this modernising process is to better mirror other ambitious trade deals that the EU and Mexico have negotiated lately. Between 2005 and 2015, the yearly trade flow of goods between the two partners more than doubled (from €26 billion to €53 billion), against the backdrop of the existing Free Trade Agreement.

• Primary Source

ESO: Background information: Press Release: Entry into force of EU-Mexico Free Trade Agreement signals start of new era in Europe's relations with Mexico http://www.europeansources.info/record/press-release-entry-into-force-of-eu-mexico-free-trade-agreement-signals-start-of-new-era-in-europes-relations-with-mexico/

ESO: Background information: Europe's Preferential Trade Agreements: Status, Content, and Implications http://www.europeansources.info/record/europes-preferential-trade-agreements-status-content-and-implications/

EurActiv, 16.02.17: Malmström: CETA done, Mexico and Mercosur next up http://www.euractiv.com/section/trade-society/news/malmstrom-ceta-done-mexico-and-mercosur-next-up/

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