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Mexico, EU Mark New Phase in Modernized Economic Partnership
(MENAFN) Mexico and the European Union have unveiled a modernized partnership agreement aimed at strengthening economic integration and expanding cooperation, marking a new phase in relations between the two sides, according to reports.
The announcement was made during a visit by an EU delegation led by European Council President António Costa and European Commission President Ursula von der Leyen, alongside Mexican President Claudia Sheinbaum, 26 years after the original framework was first signed.
Mexican officials, including Foreign Minister Roberto Velasco Álvarez and Economy Secretary Marcelo Ebrard, highlighted the deal’s scope, which includes the elimination of tariffs on 99% of Mexican exports to the EU, as well as increased European investment commitments.
“It is a truly global agreement from the beginning because it also covers political dialogue, cooperation, investment and, naturally, trade. Today, we are elevating this broad platform to a new level,” von der Leyen said during a ceremony at the National Palace.
The EU’s Global Gateway initiative is expected to mobilize around €5 billion in funding for Mexico, supporting projects in wind and solar energy as well as clean transport infrastructure, according to the announcement.
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