A Mexican official said updating the agreement would be a win for both sides, benefiting Mexico's agro-industrial sector and EU financial and service industries
Trade Commissioner Cecilia Malmstrom said the pact that went into effect in 2000 should be broadened to dismantle additional trade barriers and open markets more effectively.
Ildenfonso Guajardo Villarreal, Mexico’s secretary of economy, said an updated agreement could be a win for both sides by benefiting Mexico’s agro-industrial sector and EU financial and service industries.
The first round of formal negotiations is scheduled for mid-June.
Malmstrom said: “We are old friend and allies in many ways.” She noted Mexico was the first country in Latin America to sign a free trade agreement with the EU.