Free trade agreement between Mexico and the European Union

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Agreement on economic partnership, political coordination and cooperation between the European Community and its Member States, of the one part, and the United Mexican States, of the other part
Short title: Free trade agreement between Mexico and the European Union
Date: December 8, 1997
Come into effect: October 1, 2000
Reference: OJ L 276 of October 28, 2000, pp. 45-80
Reference (German): OJ L 276 of October 28, 2000, pp. 45-80
Contract type: Trade agreement
Legal matter: International trade law ( free trade agreement )
Signing: December 8, 1997
Ratification : -

Contracting parties to the Free Trade Agreement between Mexico and the European Union
Contracting parties to the Free Trade Agreement between Mexico and the European Union
Please note the note on the applicable contract version .

The free trade agreement between Mexico and the European Union (official name: Agreement on Economic Partnership, Political Coordination and Cooperation between the European Community and its Member States, on the one hand, and the United Mexican States, on the other hand ) is a multilateral trade agreement between Mexico and the European Union . One of its main objectives is the mutual and gradual liberalization of trade in goods and services between the two contracting parties.

Negotiations to modernize the agreement began in 2016. On April 21, 2018, Mexico and the European Union reached an agreement to draw up an updated trade agreement.

history

The free trade agreement between Mexico and the European Union is part of the Agreement on Economic Partnership, Political Coordination and Cooperation between the European Community and its Member States and the United Mexican States, signed in Brussels on December 8, 1997.

The aim of this agreement is to strengthen relations between the contracting parties in the fields of politics, trade and economy as well as increased cooperation in areas such as industry, small and medium-sized enterprises, information and communication, customs, agriculture, mining, energy, transport, science and technology , Education, culture and data protection. The official relations between Mexico and the European Economic Community began in 1975 based on the so-called Cooperation Agreement, which was replaced by a new framework agreement in 1991. These initiatives formed the basis for the start of the negotiations that eventually led to the creation of the 1997 Free Trade Agreement. The negotiations took place between November 9, 1998 and November 24, 1999 in nine meetings. These discussions resulted in Joint Council Decisions 2/2000 and 2/2001, which are considered to be the legal basis of the agreement. While the 2001 decision concerns the liberalization of trade in services, the one of 2000 relates to the liberalization of the trade in goods.

Negotiations on the new agreement between Mexico and the EU started in May 2016. At a meeting on April 21, 2018, EU Commissioner Cecilia Malmström and Mexican Economy Minister Ildefonso Guajardo Villareal reached an agreement on a new trade agreement. The core elements are the abolition of customs duties on certain foods, environmental protection, the fight against corruption, the protection of intellectual property and greater support for investment. The agreement that entered into force in 2000 will continue to exist and will be replaced by the new agreement as soon as it is ratified.

Institutional framework

The official name of this agreement is Agreement on Economic Partnership, Political Coordination and Cooperation between the European Community and its Member States, on the one hand, and the United Mexican States, on the other . The free trade agreement is governed by the Joint Council established by the Economic Partnership, Political Coordination and Cooperation Agreement and made up of members of the Government of Mexico, the Council of the European Union and the European Commission.

There is also a Joint Committee which assists the Joint Council, among other things, in the preparation of meetings and deliberations. In doing so, it monitors the implementation of the decisions and recommendations of the Joint Council and generally ensures the proper implementation of the Agreement. In addition, the Joint Committee is required to submit proposed decisions or recommendations to the Joint Council for approval. The Mixed Committee is composed of representatives of the members of the Council of the European Union and the European Commission on the one hand and representatives of the Government of Mexico on the other.

The Joint Council meets twice a year, while the Joint Committee meets annually.

Effects

Since its entry into force, the treaty has contributed to bilateral trade growth of 243% through 2017 compared to 1999.

It is the only free trade agreement that Mexico has signed with a developed trading partner that specifically mentions differences in the level of development of economies and therefore gives the country preferential treatment. This does not apply to other treaties such as NAFTA , in which Mexico, the USA and Canada are considered to be developed equally. Regarding the trade results, it should be noted that the tariff reduction schedule has been met. Both tariff and non-tariff barriers have been significantly reduced, and in absolute terms trade has increased significantly, with the European Union now becoming Mexico's third largest trading partner, behind the US and China.

See also

Individual evidence

  1. ↑ a b c d e Agreement on Economic Partnership, Political Coordination and Cooperation between the European Community and its Member States, of the one part, and the United Mexican States, of the other part , accessed on June 18, 2018
  2. ↑ a b European Commission - press release: EU and Mexico reach agreement on new trade agreement. April 21, 2018, accessed June 18, 2018 .
  3. ↑ European Commission - PRESS RELEASES - Press release - RELATIONS BETWEEN THE EU AND MEXICO. Retrieved June 18, 2018 .
  4. ↑ Summaries of EU legislation: EC-Mexico global cooperation agreement. Retrieved June 18, 2018 .
  5. ↑ Eurostat, accessed on 31 July 2018
  6. ^ Presidencia de la República: Relación bilateral México - Unión Europea. Retrieved June 18, 2018 (Spanish).
  7. ↑ Publicadas por Mario Galindo: 16 años del Acuerdo de libre comercio entre México y la Unión Europea. (No longer available online.) Archived from the original on June 18, 2018 ; Retrieved June 18, 2018 (Spanish). Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / elabceconomico.blogspot.com
  8. ^ European Commission: EU-Mexico Trade Agreement. In figures: The EU-Mexico trade and investment relationship. (PDF) Retrieved June 18, 2018 (English).

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