Mexico, EU launch new chapter in relations with modern global agreement

The government of Mexico, together with the European Commission, celebrated the modernization of an agreement aimed at integrating their economies and strengthening a deep relationship on the global stage, marking a new era between the two sides.

The government of President Claudia Sheinbaum welcomed an EU delegation led by European Council President António Costa and European Commission President Ursula von der Leyen, 26 years after the first global agreement between the parties was signed.

Sheinbaum, alongside Foreign Minister Roberto Velasco Álvarez and Economy Secretary Marcelo Ebrard celebrated the ambitious agreement under which 99% of tariffs on Mexican goods will be eliminated, alongside multimillion-dollar European investments.

“It is a truly global agreement from the beginning because it also covers political dialogue, cooperation, investment and, naturally, trade. Today, we are elevating this broad platform to a new level,” von der Leyen said during a ceremony at the National Palace.

In addition, the European Union’s Global Gateway investment strategy will mobilize €5 billion (47 billion), more than 100 billion pesos ($5.7 million), in Mexico for new wind and solar power generation projects, as well as clean mobility initiatives.

“The strength of what we are signing today — the update and modernization of the Treaty and the Global Agreement — is rooted in a vision of shared prosperity, joint work, and shared development. And just as Mexico has a relationship with the United States, we also have a relationship with the European Union, and we want to strengthen both relationships,” said Sheinbaum.

Part of the agreement also includes strengthening ties in security strategies and the fight against transnational crime.

Prior to the ceremony and the signing of the agreements, Mexico’s Security Minister Omar García Harfuch met Kaja Kallas, the EU’s foreign policy chief.