The commerce pillar of the Settlement will considerably increase an already-thriving commerce relationship: EU-Mexico commerce in items reached €82 billion in 2023, whereas two-way commerce in providers reached €22 billion in 2022, making Mexico the EU’s second-biggest buying and selling associate in Latin America.
Particularly, EU agri-food exports to Mexico reached €2.3 billion in 2023. The settlement will assist increase these exports, as zero tariffs will probably be utilized to nearly all key EU export pursuits, both upon entry into pressure or inside 7 to 10 years of the settlement’s implementation.
The settlement will create a wealth of alternatives for EU farmers and agri-food exporters as Mexico is a internet importer of EU agri-food merchandise. It’ll:
- Take away tariffs as excessive as 100% on essential EU export merchandise, equivalent to cheese, poultry, pork, pasta, apples, jams and marmalades in addition to chocolate and wine;
- Increase the safety of iconic, conventional European merchandise (Geographical Indications) to 568; and
- Make agri-food exports faster and cheaper by less complicated procedures.
The settlement additionally contains binding commitments on sustainability, labor rights, and environmental safety, in keeping with the European aims of accountable manufacturing. This not solely advantages the agri-food sector, but in addition promotes sustainable practices that enhance competitiveness.
Pork merchandise
Within the particular case of pork, the tariffs that Mexico might apply to pork imports from the European Union might attain a most of 45%, relying on the kind of product. With the brand new settlement, these tariffs will probably be lowered to 0% for nearly all pork exports. For particular cuts, equivalent to pork loins, there will probably be an preliminary duty-free quota of 10,000 tons.
Evolution of European exports of pork and pork merchandise to Mexico. Supply: 333 based mostly on information from DG Agri.
January 17, 2025/ EC/ European Union.
https://ec.europa.eu
