Arab Today, arab today eu mexico agree to modernise free trade deal
Last Updated : GMT 16:53:24
Arab Today, arab today
Arab Today, arab today

EU, Mexico agree to 'modernise' free trade deal

Arab Today, arab today

Arab Today, arab today EU, Mexico agree to 'modernise' free trade deal

Mexico's President Enrique Pena Nieto (L)
Brussels - AFP

The European Union and Mexico agreed Friday to "modernise" a 15-year-old free trade accord to bring it into line with deals concluded with Canada and negotiated with the United States.

The agreement to launch negotiations to further liberalise trade came during a summit in Brussels between Mexican President Enrique Pena Nieto and his EU counterparts Donald Tusk and Jean-Claude Juncker.  

"We have to adapt our ties to the reality of the world economy and increase bilateral trade with it," Pena Nieto told a press conference after the summit.

The decision to "modernise" the 2000 trade agreement is a result of the need "to reflect the EU's weight" as an economic power and Mexico as "an emerging power," he added.

It comes, the Mexican president said, "in light of agreements that the EU has just reviewed with our main partners in North America," Canada and the United States.

Mexico is part of the 1994 North American Free Trade Agreement with Ottawa and Washington. The European Union now has a pact with Canada and is trying to negotiate a Transatlantic Trade and Investment Partnership (TTIP) accord with the United States.

TTIP would be the biggest single free trade agreement in the world.

"Following the United States and Canada, two of our strategic and biggest trade partners, it would be an omission not to modernise our agreement," Pena Nieto said.

The sectors both sides hope to liberalise are electronic trade, energy and sustainable development.

The energy sector particularly interests a 28-nation EU that seeks to reduce its dependence on Russian imports and diversify suppliers.

Mexico, a "strategic partner" of the EU since 2008, is the world's eighth biggest producer of crude, with 2.5 million barrels a day, according to Mexican figures.

The decision to modernise the EU-Mexican free trade agreement was taken in 2013, but both sides on Friday took the political decision to launch negotiations.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eu mexico agree to modernise free trade deal Arab Today, arab today eu mexico agree to modernise free trade deal

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eu mexico agree to modernise free trade deal Arab Today, arab today eu mexico agree to modernise free trade deal

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday