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The European Union’s High Representative for Foreign Affairs Kaja Kallas said on Thursday that the modernisation of its commercial agreement with Mexico will eliminate trade barriers as the world’s economies lean towards protectionism.
Mexico and the EU will sign the update to the agreement on Friday. The signing takes place as the Mexican government negotiates the revisions to the USMCA free trade agreement with its largest trade partner the United States as well as Canada.
“This agreement will remove the remaining barriers to trade and investment, and these include strategic sectors such as raw materials, agriculture, and services,” EU foreign policy chief Kaja Kallas said during a press conference with Mexican Foreign Minister Roberto Velasco.
Kallas said the update will also strengthen supply chains and open new opportunities that will “help both economies compete globally.”
“The EU is Mexico’s third largest trading partner. Our trade has grown by 75% over the past decade,” she said.
The signing of the agreement is planned for Friday in the Mexican capital, Mexico City, with President Claudia Sheinbaum and Ursula von der Leyen, the president of the European Commission.
Mexico imported almost $67 billion (€57.7 billion) of products from Europe in 2025, and exported around $28 billion (€24.1 billion) in return.
Additional sources • AFP