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EU-Mexico Trade Agreement An Important Signal Against Protectionism, Says EuroCommerce

Published on Apr 24 2018 10:39 AM in Supply Chain tagged: Mexico / Trade / Tariffs / EuroCommerce / EU-Mexico Global Agreement

EU-Mexico Trade Agreement An Important Signal Against Protectionism, Says EuroCommerce

The EU-Mexico Global Agreement, concluded in principle at the weekend, marked another important and welcome step in Europe’s leadership in advocating free trade, according to EuroCommerce, which represents the European retail and wholesale sectors.

The agreement will see around 99% of goods traded between the bloc and Mexico on a tariff-free basis, once it has been ratified by the European Parliament and Mexican Senate.

'Bridges, Not Walls'

“The agreement reached between the EU and Mexico on an updated trade deal shows how EU trade policy can deliver real results, and how building bridges is better than building walls," commented EuroCommerce Director-General Christian Verschueren.

"This is a message I hope will also be heard in Washington ahead of negotiations on the update of NAFTA.”

The abolition of most tariffs under the agreement "will help our members offer customers more choice on a range of products", Verschueren added, noting that the measures contain helpful provisions on online and commerce sales.

Ratification

He called on the EU and Mexico to resolve remaining technical issues as quickly as possible in order to launch the ratification process.

“Companies and consumers cannot benefit from even the best trade agreement if it is bogged down in lengthy translation and ratification procedures," said Verschueren.

"Time is precious, considering we are approaching the end of this legislative period, and we hope that all those involved will keep the momentum to allow the agreement to enter into force soon.”

© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Kevin Duggan. Click subscribe to sign up to ESM: European Supermarket Magazine.

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