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Mexico, European Union Complete Negotiations on Expanded Agreement

ISSN:1054-8890
LADB Article ID: 80576
Category/Department: Mexico
Date: 2018-04-25
By: Carlos Navarro

In late April, Mexico took two important steps to diversify its trade options, with Mexican officials completing negotiations with the European Union (EU) on an expanded trade accord and the Mexican Senate easily ratifying the amended Trans-Pacific Partnership agreement, completed earlier this year. The two developments occurred at a time when negotiations on reforms to the North American Free Trade Agreement (NAFTA) remain at a stalemate. On April 22, Mexico reached agreement in principle with the EU to expand their existing trade accord, which originally went into effect in 2000. The two sides expanded their trade relationship in 2008, when the EU designated Mexico as a strategic partner A day after the EU-Mexico agreement was announced, the Mexican Senate overwhelmingly ratified the revised Trans-Pacific Partnership. The agreement, formally known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and informally referred to as TPP 11, was approved by negotiators from 11 countries in March

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