EU And Mexico Sign Updated Trade Agreement

Europe will have access to new markets.

On Friday, May 22, European Commission President Ursula von der Leyen and European Council President António Costa signed an updated trade agreement with Mexico.

According to Euronews.

The agreement was signed at the EU-Mexico summit in Mexico City, where von der Leyen and Costa were joined by the country's President Claudia Sheinbaum.

"The EU and Mexico are committed to a close strategic partnership. Today's modernized agreements define our common vision for the future and will bring many benefits to both sides," said the European Commission President.

The EU-Mexico trade agreement strengthens the EU's diversification strategy by updating a 20-year-old agreement that has already abolished customs barriers to bilateral trade.

under the new agreement, the EU will gain access to new markets for goods such as agri-food products (pork, dairy, cereals, fruit and pasta), pharmaceuticals and machinery.

In agriculture, the agreement will open new markets for Mexican products such as coffee, fruit, chocolate and agave syrup.

A total of 568 European and 26 Mexican geographical indications will also be protected and public procurement markets will be opened.

Mexico is the EU's second largest trading partner in Latin America and the EU is the second largest export market for Mexico, according to the European Commission. Trade in goods between the two sides reaches €86.8 billion in 2025 and trade in services reaches €29.7 billion in 2024.

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