The European Union and Mexico continue their trade negotiations!
Date: December 27, 2017
Original Article:
The
European Union and Mexico extend their discussion on the modernization of their
trade agreement. The two partners hoped to conclude the
negotiations before the end of the year, but the negotiations are bending the
rules of origin.
The Mexican Minister of Economy made the trip to
Brussels to facilitate the dialogue, but there are still points of difference,
says the European Commissioner for Trade.
"The rules of origin are complicated because we have different systems but we have worked hard to find compromises, to understand the systems of each other," says Cecilia Malmström. The discussions seem to stumble particularly on the issue of dairy products.
The European Union and Mexico decided in 2016 to modernize their commercial relations that had concluded in the year 2000. This acceleration of the negotiations is a response to the protectionism of the American president. Donald Trump wanting to renegotiate NAFTA, the North American Free Trade Agreement, between Washington, Mexico and Ottawa.
"Mexico is now in a very difficult situation because if Trump decides to withdraw the United States from NAFTA and decides to put an end to the entire trade agreement, Mexico must find new trading partners in the world to compensate for the losses that Trump's decision could cause, "says Fredik Erixon, director of the European Center for International Political Economy.
"The rules of origin are complicated because we have different systems but we have worked hard to find compromises, to understand the systems of each other," says Cecilia Malmström. The discussions seem to stumble particularly on the issue of dairy products.
The European Union and Mexico decided in 2016 to modernize their commercial relations that had concluded in the year 2000. This acceleration of the negotiations is a response to the protectionism of the American president. Donald Trump wanting to renegotiate NAFTA, the North American Free Trade Agreement, between Washington, Mexico and Ottawa.
"Mexico is now in a very difficult situation because if Trump decides to withdraw the United States from NAFTA and decides to put an end to the entire trade agreement, Mexico must find new trading partners in the world to compensate for the losses that Trump's decision could cause, "says Fredik Erixon, director of the European Center for International Political Economy.
Trade
between Europeans and Mexicans has tripled in recent years. In 2016, the European Union was Mexico's third
largest trading partner, behind the United States and China.
The
European Union and Mexico are about to sign a new agreement!
The European Union and Mexico hope to conclude "this week" talks to modernize their trade agreement, said Vice President of the European Commission Jyrki Katainen Tuesday after meeting in Brussels with the Mexican Minister of Economy, Ildefonso Guajardo.
"We have reaffirmed our commitment to conclude as soon as possible and, if possible, this week, a political agreement" on these negotiations, tweeted Jyrki Katainen. During his stay in Belgium, he also had to meet the European Commissioner. Cecilia Malmström trade and that to agriculture Phil Hogan, to find solutions to "conclude the process," according to a statement from the Mexican government.
In May 2016, the EU and Mexico initiated talks to boost trade by modernizing an agreement that came into force 17 years ago, with the aim of bringing it into line with the CETA treaty with Canada, which the EU wants to use as a model.
The two parties announced a few months later, in February 2017, their intention to accelerate their discussions, led by the election in the meantime of protectionist Donald Trump to the presidency of the United States. The US president quickly questioned his country's free trade agreement with Mexico and Canada, the Alena (NAFTA), which the three parties began to renegotiate, which has led Mexico to diversify its business opportunities.
The protectionism displayed by Mr Trump has also led the EU to strengthen its role as a flagship of free trade. Brussels has tried to conclude negotiations with Japan before the end of 2017 and would have liked to do the same - but without success - with the Mercosur countries (Brazil, Argentina, Uruguay, Paraguay).
Mexico was the first Latin American country to sign an Economic Partnership, Political Coordination and Cooperation Agreement with the EU in 1997, which entered into force in 2000. This agreement established a free trade between the two parties, resulting in increased bilateral trade and investment.
Trade between Mexico and the European Union tripled between 1999 and 2016, according to Mexican authorities. Mexican exports to the EU, which reached $19 billion (€16 billion), remain modest compared to the $302 billion (€255 billion) exported last year to the United States. Mexico was the 13th largest trading partner of the European Union in 2016.
Source - Agencies
The European Union and Mexico hope to conclude "this week" talks to modernize their trade agreement, said Vice President of the European Commission Jyrki Katainen Tuesday after meeting in Brussels with the Mexican Minister of Economy, Ildefonso Guajardo.
"We have reaffirmed our commitment to conclude as soon as possible and, if possible, this week, a political agreement" on these negotiations, tweeted Jyrki Katainen. During his stay in Belgium, he also had to meet the European Commissioner. Cecilia Malmström trade and that to agriculture Phil Hogan, to find solutions to "conclude the process," according to a statement from the Mexican government.
In May 2016, the EU and Mexico initiated talks to boost trade by modernizing an agreement that came into force 17 years ago, with the aim of bringing it into line with the CETA treaty with Canada, which the EU wants to use as a model.
The two parties announced a few months later, in February 2017, their intention to accelerate their discussions, led by the election in the meantime of protectionist Donald Trump to the presidency of the United States. The US president quickly questioned his country's free trade agreement with Mexico and Canada, the Alena (NAFTA), which the three parties began to renegotiate, which has led Mexico to diversify its business opportunities.
The protectionism displayed by Mr Trump has also led the EU to strengthen its role as a flagship of free trade. Brussels has tried to conclude negotiations with Japan before the end of 2017 and would have liked to do the same - but without success - with the Mercosur countries (Brazil, Argentina, Uruguay, Paraguay).
Mexico was the first Latin American country to sign an Economic Partnership, Political Coordination and Cooperation Agreement with the EU in 1997, which entered into force in 2000. This agreement established a free trade between the two parties, resulting in increased bilateral trade and investment.
Trade between Mexico and the European Union tripled between 1999 and 2016, according to Mexican authorities. Mexican exports to the EU, which reached $19 billion (€16 billion), remain modest compared to the $302 billion (€255 billion) exported last year to the United States. Mexico was the 13th largest trading partner of the European Union in 2016.
Source - Agencies
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