On 22 May, the European Union and Mexico took a giant step towards a closer long-term partnership after signing a new Modernised Global Agreement (MGA) and interim Trade Agreement (iTA) at the 8th EU-Mexico summit in Mexico City. The summit brought together senior political leaders from both sides to deepen cooperation on trade, investment, sustainability and global governance. With these new agreements, the EU and Mexico aim to create new economic opportunities, reinforce supply chains and strengthen their shared commitment to tackling international challenges.
A Modernised Partnership
The newly signed agreements are designed to modernise an already strong relationship. Trade between the EU and Mexico is already worth around €100 billion annually in goods and services. In addition, both sides believe the new framework will unlock even greater opportunities for businesses and citizens on both sides of the pond.
Commission President von der Leyen stated that this new partnership will support jobs, economic growth and cooperation on issues ranging from clean energy to human rights and gender equality.
The summit also reaffirmed a shared commitment to multilateralism. As global challenges such as climate change, economic disruption and international conflict continue to grow, both sides pledged closer coordination to promote peace, protect human rights and strengthen global institutions.
Trade and Technology
One of the key goals of the agreements is to make trade and investment easier. For European businesses, this could mean improved access to Mexican markets, fewer barriers to digital trade and more opportunities to compete for public contracts in Mexico. The agreements also include benefits for the agri-food sector, with Mexico committing to protect hundreds of European geographical indications.
Cooperation in strategic industries is also expected to grow, particularly in clean technologies, digital innovation and critical raw materials needed for the green transition. The EU and Mexico agreed to relaunch their Digital Dialogue, focusing on innovation, emerging technologies and digital regulation.
Kaja Kallas, the EU’s High Representative for Foreign Affairs and Security Policy, stressed that the agreements extend beyond economics. “At a moment when the international order is not in good shape, the agreements we sign this week are about far more than trade; they are a geopolitical statement.”
Sustainability
Both sides also signed a Joint Declaration on the Circular Economy, an approach focused on reducing waste, reusing resources and tackling environmental challenges such as pollution and biodiversity loss. In addition, the agreements include a declaration promoting women’s economic empowerment and gender equality in trade.
The EU also reaffirmed its investment commitment through the Global Gateway Investment Agenda, which is expected to facilitate more than €5 billion in European-backed investments across sectors such as renewable energy, transport, health, agriculture and digital connectivity in Mexico.
Next steps
While the agreements have now been signed, they must still go through ratification processes before fully taking effect. The interim Trade Agreement is expected to enter into force first, while the broader Modernised Global Agreement will require approval by EU Member States and institutions.
