Brussels, July 15, 2026 – The Europe Today: The Council of the European Union has formally adopted the decision to conclude the Interim Agreement on Trade (ITA) between the European Union and Mexico, marking the completion of the EU’s internal ratification process for the landmark trade pact.
The decision follows the signing of the agreement during the EU–Mexico Summit on May 22, 2026, and the European Parliament’s approval during its plenary session on July 8, 2026.
According to the Council, the latest decision confirms that the European Union has completed all internal procedures required for the agreement’s entry into force.
The modernised trade agreement is expected to significantly improve market access by eliminating most of the remaining customs duties, expanding opportunities in services, investment and public procurement, and reducing non-tariff barriers to trade.
The ITA also strengthens the protection of European geographical indications while enhancing cooperation in digital trade, intellectual property rights, customs and trade facilitation, competition policy and the supply of critical raw materials.
The agreement modernises the trade component of the broader EU–Mexico Global Agreement (MGA), providing an updated legal framework for bilateral trade and investment relations.
The European Union said the agreement is expected to benefit more than 45,000 EU companies exporting to Mexico, the majority of which are small and medium-sized enterprises (SMEs), by creating a more predictable and competitive business environment.
Mexico remains the European Union’s second-largest trading partner in Latin America, while the EU is Mexico’s third-largest trading partner globally.
Bilateral trade between the two sides reached nearly €87 billion in goods in 2025, while trade in services exceeded €29 billion in 2024, underscoring the importance of the economic relationship and the potential benefits of the modernised trade agreement.
