During his participation in the World Economic Forum in Davos, President Enrique Peña Nieto met with the President of the Swiss Confederation Johann Schneider Ammann, with whom he witnessed the signing of the Joint Declaration on the Launch of Negotiations for the Review of the Free Trade Agreement (FTA) between Mexico and the Member States of the European Free Trade Association (EFTA).

The aim is to achieve an FTA in keeping with the 21st century between Mexico and the EFTA Member States. Both sides seek to strengthen investment flows.

Background and goals

The FTA between Mexico and EFTA was signed on 27 November 2000 and entered into force on July 2001, while the General Framework for the Review of the Treaty was concluded on October 28, 2015.

The document, signed by the parties, establishes the terms for the negotiations to update and expand the FTA between Mexico and EFTA.

The review of the FTA is designed to expand the access of Mexican agricultural products to member states of EFTA; eliminate, reduce or prevent unnecessary non-tariff barriers, update the chapters already included in the FTA and incorporate new issues.

Issues that will eventually be included include trade facilitation, regulatory coherence, SMEs and energy cooperation.The Joint Declaration on the Launch of Negotiations for the Review of the Free Trade Agreement between Mexico and the Member States of EFTA  was signed by Secretary of Economy Ildefonso Guajardo; President of the Swiss Confederation Johann Schneider Ammann; Minister of Foreign Affairs of Norway Borge Brende; Minister of Foreign Affairs, Education and Culture of Liechtenstein Aurelia Frick, and Permanent Representative of Iceland to the United Nations Martin Eyjolfsson.