Recently, on his
working visit to Brussels, Belgium, the Secretary of Economy, Ildefonso
Guajardo Villarreal, met with Cecilia Malmström, Commissioner for Trade of the
European Commission to advance on the preparations for the modernization of the
commercial part of the Global Agreement between Mexico and the European Union
and defining the vision, the grade of ambition and the scope that such a
process should take.
It is estimated
that in the framework of the visit of President Enrique Peña Nieto to the
Mexico Summit - European Union, in the Belgian capital, on 12 June, it could be
announced the completion of the study "Joint Vision”; which the European
Commission requires to continue with its internal procedures and then get the
mandate to negotiate with Mexico.
Guajardo Villarreal and the Commissioner Malmström agreed that Mexico and the
EU are strategic partners, linked by a free trade agreement that has allowed
the development of trade and investment relations and job creation on both
sides. Nevertheless, even when under the Treaty have been removed the tariff
barriers, other non-tariff restrictions should be addressed.
Fifteen years from
the entry into force of the Agreement that currently governs the business
relationship, it is necessary to adapt it to the new international economic
reality. The modernization of this trade agreement should make it comparable
with the new treaties negotiated by both Mexico and the European Union. Given
the importance of the relations with Mexico, the Commissioner indicated that
she will ask for the negotiating mandate so the European Commission could start
negotiations with Mexico starting the last quarter of 2015.
Guajardo Villarreal also participated in the event "Upgrading the
EU-Mexico FTA", organized by the Centre for European Policy Studies (CEPS)
and the Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) on the occasion of the
presentation of the study "Evaluation of the effects of the Free Trade
Agreement between the European Union and Mexico on bilateral trade and
investment", prepared by the bank itself.
During his visit,
the Secretary also held meetings with EU Parliament Members, some of which are
part of the Committee on International Trade of the European Parliament (INTA)
and the Joint Parliamentary Committee Mexico-Union Europe, with whom he tried,
among other topics, the modernization the commercial part of the Global
Agreement between Mexico and the European Union and the celebration of the
Second Summit of the Community of Latin American and Caribbean States (CELAC) -
European Union. In addition, he met with European impresarios of the financial,
aerospace, telecommunications, pharmaceuticals and infrastructure sectors.
The European Union
is the third largest trading partner of Mexico, and among the Latin American
countries, is the second largest trading partner. During the past 15 years, the
trade exchanges with that block were multiplied by 3.5, reaching US $64,950
million in 2014. Similarly, the European Union is the second largest source of
foreign direct investment in Mexico, having accumulated investments of $ US
149,146 million since 1999; this amount is 38% of the total received by Mexico