On the 21st of April 2018, the European Commission announced the ending of the main negotiations with Mexico for a new bilateral trade agreement. This agreement comes as a continuation of the one signed in 1997 and is part of the EU -Mexico Global Agreement.
The Commission informs that the total amount of trade last year was worth approximately 80 billion euro (62 billion in goods and 15 billion in services). More so, since the initial agreement, trade increased by approx. 8% each year. In addition, approximately 400,000 work places in EU are linked to the exports with Mexico. The numbers are expected to rise once with the new agreement, even though, in its current form, the agreement is already very important for both parties.
The new agreement will be responsible for easing the customs procedures, reducing the formalities for industrial goods exchange, new rules for digital commerce, protecting traditional products, and ensuring sustainability. The agreement comes with good news for the standards of food hygiene, the EU reserving its right to apply its own standards regarding food products, consumer health, and so on.
By the end of the year, all details regarding the agreement should be set and then it will be up to the European Parliament and Council to approve it.
You can find more details at http://trade.ec.europa.eu/doclib/press/index.cfm?id=1831