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EU and Mexico reach new agreement on trade

Agricultural exports from the EU are set to benefit the most,such as poultry, cheese, chocolate, pasta, and pork.

Monday 23 April 2018 (1 years 5 months 24 days ago)
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The European Union and Mexico reached a new agreement on trade, part of a broader, modernised EU-Mexico Global Agreement. Practically all trade in goods between the EU and Mexico will now be duty-free, including in the agricultural sector.

Since the previous EU-Mexico trade agreement came into force in 2000, trade between the EU and Mexico has risen at a rate of around 8% per year, resulting in an overall increase of 148% in trade in goods over the period. Despite these positive results, there was still a wide margin for improving the trade relationship that the new agreement is addressing, by making virtually all trade in goods duty-free.

Agricultural exports from the EU are set to benefit the most,such as poultry, cheese, chocolate, pasta, and pork.

The agreement will, in particular:

  • provide preferential access for many cheeses such as Gorgonzola and Roquefort, which currently are up to 20%, and gain significant new access for many others within annual quotas;
  • secure a considerable volume for milk powder exports in one of the largest markets, starting with 30,000 tonnes from entry into force, rising to 50,000 tonnes after 5 years.
  • allow the EU to substantially increase its pork exports to Mexico, with duty-free trade for virtually all pork products;
  • eliminate tariffs for products like chocolate (currently up to 30%) and pasta (currently up to 20%);
  • ensure the protection from imitation for 340 distinctive European foods and drink products in Mexico, so-called geographical indications, such asComté cheese from France,Queijo São Jorge cheese from Portugal, Szegedi szalámi from Hungary, and Magiun de prune Topoloveni plums from Romania.This means that EU producers of traditional delicacies are not struggling against copies, and when consumers buy these products they can do so knowing they are buying the real thing.

Friday April 20, 2018/ EC/ European Union.
http://europa.eu/rapid

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