Mexico and EU Sign Modernized Global Agreement and Interim Trade Deal

Mexico and the European Union have taken a significant step forward in their bilateral relationship by signing the Modernized Global Agreement and an Interim Trade Agreement. This move, occurring during the VIII Mexico-EU Summit in Mexico City, signifies a commitment to strengthening ties that have existed for over twenty-five years.

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The agreement seeks to update and expand the political, economic, and cooperation relationship between both parties, after more than twenty-five years of validity of the original agreement between Mexico and the European bloc.

President Claudia Sheinbaum, alongside European Commission President Ursula von der Leyen and European Council President António Costa, oversaw the signing of the main agreement. This pact is designed to update and broaden the political, economic, and cooperative dimensions of the relationship. The signing of the Interim Trade Agreement by Mexico's Economy Secretary Marcelo Ebrard Casaubón and EU Commissioner for Trade Maroš Šefčovič further underscores the intent to boost bilateral trade and economic integration.

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The instrument is aimed at strengthening bilateral trade and economic integration of the parties.

Furthermore, a letter of intent was signed by Mexico's Foreign Secretary Roberto Velasco Álvarez and EU High Representative for Foreign Affairs and Security Policy Kaja Kallas. This establishes a framework for a political and strategic dialogue, focusing on consultation and coordination on global matters. The summit also saw agreements to enhance cooperation in critical areas such as trade, security, migration, energy transition, digitalization, and international political coordination. This comprehensive approach signals a renewed and robust partnership between Mexico and the EU.

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The letter of intent is for the conduct of a political and strategic dialogue focused on consultation and coordination between Mexico and the EU on global issues.