On 22 May 2026, at the eighth EU-Mexico Summit, the European Union (EU) and Mexico signed the Modernised EU-Mexico Global Agreement and the EU-Mexico Interim Trade Agreement. These are two parallel, legally separate instruments that together establish a comprehensive framework for deepened political, economic, and sectoral cooperation between the partners.
EU-Mexico relations are currently based on the Economic Partnership, Political Coordination and Cooperation Agreement between the EU and Mexico, which entered into force in 2000. The Modernised Global Agreement will upgrade and replace the existing agreement.
Slovenia supports the agreement as a balanced outcome that promotes trade and economic growth, while including high environmental and social standards. It supports its effective implementation, transparency, and consistent compliance with all commitments.
The agreement will establish a free trade area with 580 million consumers. The EU is Mexico’s third-largest trading partner, and Mexico is the EU’s second-largest trading partner in Latin America. Trade in goods reached 87 billion euros in 2025, and trade in services reached 30 billion euros in 2024. In the period 2015 – 2025, trade in goods increased by 75 percent.
The Modernised Global Agreement represents an important strategic milestone confirming the EU’s commitment to open, rules-based trade and strengthening economic resilience and geopolitical partnerships with Latin America. It will strengthen political dialogue and cooperation between the partners and create opportunities in areas such as trade, investment, and clean technologies, while strengthening supply chains and supporting the fight against climate change. Until the Modernised Global Agreement enters fully into force, the Interim Trade Agreement, which constitutes its trade pillar, will apply.
For Slovenia, the agreement represents an opportunity to strengthen economic, sectoral and diplomatic ties with Mexico within the framework of broader European strategic action. It opens new export opportunities, especially for small and medium-sized enterprises, reduces barriers in digital trade, opens a new market for public procurement, strengthens rules for the protection of intellectual property rights, simplifies rules for companies, and strengthens cooperation on the green transition. It will also contribute to Slovenia’s greater global competitiveness and the strengthening of economic security through the diversification of supply chains, including in the field of critical raw materials, and confirm the commitment to rules-based international trade.
The agreements will enter into force after the completion of internal ratification procedures in the EU and Mexico. For the Interim Trade Agreement, only ratification at the EU level will be required, while the Modernised Global Agreement will need to be ratified by all EU Member States.
Details of both agreements and the summit meeting are available on the European Commission website or the Council of the EU.