Agreement in Principle Eu Mexico

Agreement in Principle EU-Mexico: What You Need to Know

After over two years of negotiations, the European Union and Mexico recently reached an agreement in principle, or a preliminary deal, on their modernized free trade agreement. This trade agreement is expected to significantly increase economic relations between the two regions and provide benefits for both parties.

Here`s what you need to know about the agreement in principle between the EU and Mexico:

1. The agreement will remove tariffs on almost all goods traded between the EU and Mexico. This will open up opportunities for businesses in both regions to expand their markets and increase trade.

2. The agreement will also include commitments to sustainable development and stronger labor and environmental standards. Both parties have agreed to uphold the principles of the Paris Agreement, which aims to combat climate change and reduce global greenhouse gas emissions.

3. One of the most significant aspects of the agreement is its focus on digital trade. The agreement will promote the free flow of data between the EU and Mexico and ensure that both regions have strong data protection measures in place.

4. The agreement in principle also includes provisions on intellectual property rights, public procurement, and investment protection.

5. The agreement will now undergo legal revision and will be translated into all official EU languages. Once this process is complete, the agreement will be presented to the European Parliament and EU member states for approval.

The EU-Mexico agreement in principle is a positive step towards strengthening economic ties between the two regions and promoting sustainable development and digital trade. It has the potential to provide significant benefits for both parties and create new opportunities for businesses and consumers.