President Sheinbaum seeks to open new markets while maintaining focus on USMCA review.

On Tuesday, Claudia Sheinbaum said the “Modernized Global Agreement” between Mexico and the European Union will open new international business opportunities for her country.

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“We are opening other horizons… because we also have to protect our economy,” she said, while reaffirming that her administration’s priority is the review of the trade agreement between the United States, Mexico, and Canada (USMCA).

The updated Mexico-EU agreement includes new areas such as digital trade, support for small and medium-sized businesses, and preferential access for Mexican agricultural and food products in the European market.

“It is a very positive step forward and it clearly demonstrates the certainty surrounding the country,” Sheinbaum said, emphasizing that her administration seeks to expand opportunities for marketing Mexican products in international markets.

On May 22, European Commission President Ursula von der Leyen and Sheinbaum will sign the modernized agreement during the summit between Mexico and the European Union, the first high-level summit between Mexico and the EU in more than a decade.

According to the European Union Council, trade in goods between Mexico and the EU exceeded 86 billion euros in 2025, with nearly 53 billion euros in European exports to Mexico and almost 34 billion euros in imports from the Latin American country.

In services, bilateral trade reached 29.5 billion euros in 2024, the latest year available, while EU foreign direct investment in Mexico totaled 206.6 billion euros that year, making the bloc the country’s second-largest investor.

The EU is Mexico’s third-largest trading partner, after the United States and China, and its second-largest export market, while Mexico is the European bloc’s 11th-largest trading partner.

teleSUR/ JF

Source: EFE – EU

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