New boost to trade with Europe
The Mexican government estimates that exports to the European Union could grow up to 50% once the modernized Free Trade Agreement (TLCUEM) comes into force. This was reported by the Ministry of Economy.
The agency identified 29 products with high potential in the European market. Of them, six are manufactured goods and six are agricultural goods that are already sold in the region. The remaining 17 represent expansion opportunities.
Among the products with the greatest projection, bananas, honey, asparagus, Persian lemon and tomato stand out. However, Mexican agri-food exports to Europe are still a smaller fraction of the total, concentrated in Germany, Spain, the Netherlands and Italy.
The private sector, represented by the Mexican Business Council for Foreign Trade (Comce), estimates more moderate growth, between 15% and 20%. Even so, they agree that sectors such as automotive, auto parts, pharmaceuticals and chemicals could gradually benefit in the coming years.
On May 22, the signing of the Modernized Global Agreement between Mexico and the European Union is expected. This step would open a new stage in the bilateral trade relationship. The treaty must then be ratified by the European parliaments and the Mexican Senate.
Everything indicates that the modernization of the agreement will give new vigor to economic exchanges between both regions, with concrete benefits for national producers and exporters.




