Free Trade Agreement European Union Mexico
Posted On 22. Juli 2023
The Free Trade Agreement (FTA) between the European Union (EU) and Mexico is a comprehensive and far-reaching agreement that aims to eliminate trade barriers and increase economic cooperation between the two regions. The FTA, which was signed on April 28, 2020, will provide a significant boost to the economies of both sides and strengthen the long-standing trade relations between the EU and Mexico.
One of the main objectives of the FTA is to increase market access for goods and services between the EU and Mexico. The agreement will eliminate tariffs on a wide range of products, including agricultural goods, manufactured products, and services. This will create new opportunities for businesses on both sides and promote competition, which is expected to lead to lower prices and greater choice for consumers.
The FTA also contains provisions that aim to protect intellectual property rights, enhance transparency in trade and investment, and improve access to government procurement opportunities. These measures are designed to create a fair and level playing field for businesses operating in both regions, and to ensure that the benefits of the agreement are shared equitably.
The FTA between the EU and Mexico is particularly significant in light of the recent rise in protectionism and trade tensions around the world. By strengthening economic ties between two major trading partners, the FTA sends a strong message that free trade and open markets remain a key driver of economic growth and prosperity.
For businesses, the FTA represents a significant opportunity to expand their operations and tap into new markets. For consumers, the agreement should lead to lower prices and greater choice of goods and services. Ultimately, the FTA between the EU and Mexico is a win-win for both sides, and a positive development for global trade.