Mexico and Europe re-negotiate Free Trade Agreement

Officers from both Mexico and the European Union (E.U.) will be meeting by mid-June for the first round of negotiations to update the existing bilateral Free Trade Agreement, announced the Minister of Economy, Ildefonso Guajardo, after meeting the European Commissionaire of Commerce, Cecilia Malmstr?006d002e0020The main focus will be the creation of chapters about Electronic Commerce, Intellectual Property, Environmental Protection and Public Tenure, among other relevant topics, said Mr. Guajardo. The main objective is to adapt this agreement for “new challenges”, making it similar to the agreements the E.U. has already signed with Canada, Colombia, Peru and Ecuador, as well as the U.S. treaty, that is still under negotiations. Business relations have been successful ever since the original agreement was signed, remarked Mr. Guajardo and Mrs. Malmstr?006d002c0020with commercial exchange up by 250%, a total value of US$62.1 billion during 2015. Besides, the E.U. secured its position as the second largest source of Foreign Investment in Mexico, contributing 40% of the total amount.