The relationship with the European Union is a priority for Mexico. In January 2013 at the beginning of his administration, President Enrique Peña Nieto, met with the then Presidents of the European Council and the European Commission on the sidelines of the first ECLAC-EU Summit held in Chile. They agreed to start a process of reflection with a view to updating the legal framework for the Mexico-European Union relationship.
One of the main goals of High Representative Mogherini’s visit is to announce the beginning of a new era in the Mexico-European Union relationship.
The agenda of the High Representative of the Union for Foreign Affairs and Security Policy and Vice President of the European Commission includes the inauguration of the 36th session of ECLAC, a meeting with President Peña Nieto, inauguration of the second Mexico-European Union Dialogue on Security and Law Enforcement and a joint press statement with Foreign Secretary Ruiz Massieu to announce the start of negotiations on updating the bilateral legal framework.
Importance of the European Union
- The EU is the number one trading power in the world. It accounts for 16% of global imports and exports. The EU is the largest economy at the global level, with a GDP of USD 18.5 billion.
- Six of the twenty largest economies in the world are in the EU: Germany (4th place), UK (5th), France (6th), Italy (8th), Spain (14th) and the Netherlands (17th). (Source: World Bank.)
- In 2015, the EU was Mexico’s 2nd-ranked investor and third-ranked trading partner, with an 8% share of our total trade.
- 15 years after the entry into force of the Global Agreement, bilateral trade (1999-2015) went from 18.505 to 62.162 billion dollars, an average annual increase of 7.9%.