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. This marks the final step in the EU's internal approval process following the signing of the agreement on May 22, 2026, during the EU-Mexico Summit, and the European Parliament's consent on July 8.
The Interim Agreement on Trade modernises the trade pillar of the EU-Mexico Global Agreement, providing an updated legal framework for bilateral trade and investment.
The agreement will eliminate most of the remaining customs duties between the two partners while expanding access to markets for services, investment and public procurement. It also aims to reduce non-tariff barriers to trade.
Among its other provisions, the agreement strengthens the protection of European geographical indications and enhances cooperation in digital trade, intellectual property rights, customs administration, trade facilitation, competition and critical raw materials.
The modernised agreement is expected to benefit more than 45,000 European exporters, the vast majority of which are small and medium-sized enterprises.
As trade policy falls under the exclusive competence of the European Union, the agreement does not require ratification by individual EU member states.
The next step will be the completion of Mexico's internal ratification procedures, which is expected after the summer parliamentary session. Following the formal exchange of notifications between the two parties, the agreement will enter into force on the first day of the second month. A two-month transition period will allow businesses to prepare for operating under the new rules.
The Interim Agreement on Trade will function as a standalone agreement until the full Modernised EU-Mexico Global Agreement enters into force.
PigUA.info, based on materials from 3tres3.com