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Internationalization

Modernization of the EU-Mexico Trade Agreement – Thuringian companies benefit in many ways

The modernization represents a significant milestone and creates a solid foundation for more stable and dynamic trade relations.
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Image: ugurhan / istockphoto.com

Es ist gerade in Zeiten globaler Unsicherheiten ein wichtiger Impuls für Wachstum und wirtschaftliche Diversifizierung und bietet konkrete Vorteile und Chancen für Thüringer Unternehmen: Vor wenigen Tagen, am 22. Mai, wurde im Rahmen des EU-Mexiko-Gipfels das modernisierte EU-Mexiko-Handelsabkommen unterzeichnet. Die Modernisierung stellt einen bedeutenden Meilenstein dar und schafft eine solide Grundlage für stabilere und dynamischere Handelsbeziehungen.

The aim of the modernization is to further reduce trade barriers, improve the framework conditions for companies, and unlock new economic potential. Among the concrete advantages for companies that the new contract brings is, in particular, the almost complete elimination of tariffs, which significantly strengthens the competitiveness of European and German products. In addition, access to public procurement markets is facilitated and non-tariff trade barriers – for example, through the approximation of standards and regulations – are reduced. The protection of intellectual property and investment conditions are also improved. Sectors such as mechanical and plant engineering, the chemical industry, the packaging industry, and the agricultural and food sector are likely to benefit particularly.

The existing trade agreement dates back to 2000 and has led to a significant strengthening of trade relations: Today, more than 45,000 companies from the European Union, predominantly small and medium-sized enterprises, export to Mexico. At the same time, over 2,500 European companies are active in the country, including around 2,100 from Germany. This underscores Mexico's high strategic importance for the German economy. For decades, Mexico has been Germany's most important trading partner in Latin America and represents a central pillar of many companies' internationalization strategies. The country is convincing not only as an attractive production location with qualified specialists, but also through its large domestic market with around 130 million consumers. Furthermore, Mexico is increasingly positioning itself as a partner for innovation and future technologies and benefits from its geographical location as a bridge to the North American market.

Despite the current improvements brought by the modernization agreement, important framework conditions remain in place that companies must continue to take into account. These include, in particular, rules of origin, legal and regulatory requirements, as well as compliance provisions. Questions of financing and funding also continue to play a role. Careful preparation and strategic planning therefore remain crucial in order to make optimal use of the benefits of the modernized agreement.
 

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