EU, Mexico sign expanded trade deal

The European Union and Mexico signed a long-stalled free trade agreement at the eighth EU-Mexico Summit in Mexico City. The agreement expands the 2000 trade accord by providing duty-free access for almost all goods, including farm products, whereas the earlier pact covered only industrial goods. The deal aims to create jobs and generate value on both sides of the Atlantic while supporting shared prosperity during complex international conditions. Mexico’s Economy Ministry projects Mexican exports to the EU could rise from about $24 billion annually to $36 billion by 2030. The EU exports about $65 billion in goods to Mexico each year. EU leaders described the agreement as a geopolitical statement and a step toward better preparedness for current challenges.

"The goal is simple: We want to create more jobs and generate more value on both sides of the Atlantic. This agreement gives us great wings to fly very high."

"The deal, which expands on the 2000 trade accord, provides duty-free access for almost all goods, including farm products. The old pact covered only industrial goods."

"We are living through complex times on the international stage, but it is precisely at moments like these that we must act with greater cooperation, dialogue, and humanist vision. Future prosperity must be shared, or it will not be lasting."

"According to Mexico's Economy Ministry, the new deal could boost Mexican exports to the EU from around $24 billion (21 billion) annually to $36 billion by 2030. The EU, meanwhile, exports roughly $65 billion in goods to Mexico each year."

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