Trade Agreement With the European Union is of Great Benefit to Mexico: Claudia Sheinbaum

By SPR Informa | Mexican Press Agency

President Claudia Sheinbaum highlighted on October 17 that the Global Agreement between the European Commission and Mexico will be very beneficial for our country, as it incorporates an important tariff reduction for several products.

During the People’s Morning, Sheinbaum confirmed that in February 2026, the trade agreement will be officially signed after its conclusion in January of this year, and assured that “it benefits Mexico a lot for the export of products from Europe, from agricultural products to manufacturing. It is very beneficial for Mexico.”

The President celebrated this agreement after the participation of Undersecretary María Teresa Mercado in the VI Mexico-European Union Forum on October 16, in which she gave assurance that this agreement “will provide a framework for collaboration and renewed interaction in the economic sphere.”

According to the undersecretary, with the agreement, 86% of the products in trade between Mexico and the European Union will be tariff-free, and another 10% will be tariff-free within the next decade.

The negotiations of this framework were finalized at the end of this year, and it was determined that dialogue between the EU and Mexico will be strengthened in relation to:

⦁ Shared values, such as human rights, democracy, and the rule of law

⦁ Drugs, transnational organized crime, and migration

⦁ Promotion and protection of multilateralism, with increased participation in the United Nations, the World Trade Organization, and the G20

Mexico is the EU’s most important trading partner in Latin America, as trade in goods between the two reached 82 billion euros (1.6 trillion pesos) in 2023, and two-way trade in services amounted to 22 billion euros (455.4 billion pesos) in 2022.