It is with great satisfaction that the Portuguese Government salutes the conclusion of negotiations for the new Trade Agreement between the European Union and Mexico, announced today by the European Commission.

The conclusion of negotiations for this important agreement is particularly noteworthy in view of the worldwide restrictions imposed as part of the pandemic crisis management. Free and rule-based trade will be an indispensable instrument for the recovery of the European and world economy. Today, more than ever, it is essential that the European Union continues to promote its ambitious trade agenda.

The new EU-Mexico Trade Agreement aims to modernise and update the Global Agreement currently in place, the economic effects of which were, and are, indisputably positive. Since its entry into force in the year 2000 the volume of trade in goods has grown by 148%, with trade between the EU and Mexico having reached an important level.

Mexico is a regional power and an important political and economic partner of Portugal and of the European Union; it is also the European Union’s main trading partner in Latin America, as well a relevant market for Portuguese exports, with considerable room for improvement.

The Portuguese Government is sure that the terms of this Agreement, namely the reduction of customs duties on agricultural products, the protection of an important set of European geographical indications, the opening up of new markets in the services and public procurement sectors, as well as the protection of European investments in Mexico, will further intensify trade and investment. Lastly, it is worth noting that the common goals of the EU and Mexico in terms of sustainable development have been strengthened by this Agreement.

Lisbon, 29 April 2020

  • Share