Mexico and the EU will eliminate tariffs on 83% of agri-food products after modernizing their agreement
The head of the Trade Negotiations Unit at the Ministry of Economy, Deborah Alcocer, explained that with the renewed treaty, Mexico will strengthen its strategy to diversify its markets and increase its presence in the European region.
The modernization of the trade agreement between Mexico and the European Union (EU), which will be signed in a few weeks, includes the elimination of tariffs on more than 83% of agri-food products and the simplification of customs procedures.
This was announced by Deborah Alcocer, head of the Trade Negotiations Unit at the Ministry of Economy, who emphasized the opportunity presented by the European market, with approximately 450 million potential consumers, where Mexico currently accounts for only about 0.2% of agri-food imports.
“The modernization of the agreement should be understood precisely as a strategic tool to diversify our trade… This opens a very important window for all Mexican producers and exporters to take advantage of the European market with better access conditions and greater predictability,” he stated.
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He added that the renewal of this trade agreement goes beyond tariffs, as it reduces barriers, streamlines procedures, and creates a level playing field for companies of all sizes.
During the “Mexico-European Union: Opportunities and Agri-food Diversification” Forum, organized by the National Agricultural Council (CNA), Deborah Alcocer explained that with the renewed treaty, Mexico will strengthen its strategy to diversify its markets and increase its presence in the European region, where products such as coffee, tequila and avocado are already traded.
Opportunities are growing
In the same forum, the European Union’s ambassador to Mexico, Francisco André, emphasized that the new trade agreement between Mexico and the EU “will bring more opportunities.”
“These opportunities lie in lower tariffs, the elimination of quotas, and the liberalization of the vast majority of products that are not yet covered by the current agreement or preferential tariffs. On a qualitative level, it will simplify customs procedures for Mexican exporters and protect iconic Mexican products,” he explained.
Francisco André noted that, after 11 years of waiting for this agreement to move forward, they expect to finalize the signing in the coming weeks.
When the first agreement between Mexico and the European Union came into effect in 2000, he continued, trade between the two regions more than quadrupled in just over a decade.
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Today, the European Union is the world’s leading importer of food products and the second-largest destination for Mexican exports. It is also Mexico’s third-largest trading partner. “We buy more from Mexico than we export to it,” André affirmed.
As the world’s largest food importer, with a market exceeding $750 billion, the European Union represents a significant opportunity for Mexico, according to Jorge Esteve, president of the National Agricultural Council (CNA).
“It’s a crucial market where we need to be present. Our high-quality products must be in Europe. The ratification of this modernized trade agreement between Mexico and the European Union will open doors to opportunities for everyone in our sector,” he commented.
He therefore called for identifying not only the opportunities but also the barriers, and for defining concrete actions to increase the presence of European products in Mexico and Mexican products in Europe.
In a video conference, the head of Mexico’s Mission to the European Union, Rogelio Granguillhome, stated that the agri-food sector will be one of the main beneficiaries of the modernized global agreement, and that for Mexico it will represent a strategic platform for trade diversification.
“The treaty will expand access for numerous Mexican products, but beyond that, its true potential lies in creating conditions for a more fluid, predictable, and integrated relationship… The key will be to continue making progress in regulatory, sanitary, and standards matters,” he emphasized.
Source: www.eleconomista.com
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