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The modernisation of the EU-Mexico Free Trade Agreement began in 2015 with renegotiations. From April 2020, negotiations with the two nations, which have agreed on revised terms, will be completed. Under the new EU-Mexico agreement, almost all trade in goods between Mexico and the EU will be exempt from customs duties. Customs procedures are becoming easier to boost exports. The new agreement also contains progressive rules on sustainable development, such as the obligation to effectively implement the Paris Climate Agreement. It is also the first time that the EU has agreed with a Latin American country on investment protection. The free trade agreement between Mexico and Colombia dates back to 1994, although the agreement was adapted and extended in the following years. The most recent version contains provisions on market access and rules of origin. Mexico`s trade agreements with Vietnam and other Asian countries allow Mexico to further consolidate its place in the world as an emerging production power plant and trading partner of choice. Mexico is already a highly integrated partner of the United States and is now becoming a more independent trading partner for countries in Europe and Asia. Mexico and Uruguay began implementing their free trade agreements in July 2004 and have deepened an existing agreement.

In addition to opening up trade markets, the Free Trade Agreement includes, inter alia, provisions on services, investment, intellectual property rights, dispute settlement procedures, government procurement, rules of origin and customs procedures. The alliance also integrates the four national stock markets, lifts visa restrictions between alliances and opens joint international trade missions. The alliance prioritizes private sector cooperation as it promotes free trade, which helps strengthen competitiveness and development. Colombia, Venezuela and Mexico account for about 70% of the entire Caribbean region. In 1994, the three countries concluded a free trade agreement that protects intellectual property rights and public sector investment. Trade restrictions should be reduced by 10% per year over ten years. Venezuela finally left the agreement in 2006. The Free Trade Agreement between Mexico and Central America brought together former separate agreements between Mexico, Costa Rica and Nicaragua and the northern triangle of El Salvador, Guatemala and Honduras. The result was a multilateral agreement that was formalized in November 2011 and ratified in 2013. The free trade agreement has expanded trade and investment flows between the parties and laid the foundations for improving customs and trade procedures.

The agreement also aims to promote a comprehensive economic partnership including competition policy, improvement of the business environment and cooperation in areas such as vocational education and training as well as support for small and medium-sized enterprises. The agreement eliminated or reduced tariffs, including on industrial products. It also explicitly prohibits performance requirements, such as for example. B the requirement of local content as a precondition for investment. Free trade agreements allow countries to access different markets and promote global competition. Most importantly, free trade agreements can increase a country`s GDP and foster business opportunities and attractive incentives for companies looking to set up. For companies that want to produce in a foreign company like Mexico, free trade agreements offer many advantages. This includes reducing barriers to trade and cooperating closely between nations on trade in goods and services. In June 2010, Mexico and Bolivia replaced their existing free trade agreements with a new economic complement agreement (ECA 66). The agreement allowed the continuation of the free movement of goods without changing the preferential tariff regime agreed in the previous free trade agreement. In March 2000, Mexico and Israel signed a free trade agreement to increase bilateral trade by tens of millions of dollars.

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