Ninth round of negotiations begins to modernize the Free Trade Agreement between the European Union and Mexico (FTAEUM)

The work of the ninth round of negotiations for the modernization of the Free Trade Agreement between Mexico and the European Union (FTAEUM) began on Tuesday Feb. 13 in Mexico City, according to the Ministry of Economy.

In a statement, he explained that the meeting is headed by the Undersecretary of Foreign Trade, Juan Carlos Baker Pineda, and the Deputy General Director of Commerce of the European Commission, Mauro Petriccione.

He explained that during the meetings, the negotiating teams will seek to advance on issues such as access to goods markets, rules of origin, public procurement, State-owned companies and trade-in services.

In addition to investment, intellectual property, geographical indications, anti-corruption, improvements in the process of settlement of commercial disputes and legal and institutional aspects.

“The modernization of the TLCUEM constitutes a priority in the commercial agenda of Mexico, as it is aimed at strengthening the integration with existing commercial partners and at promoting the diversification of economic relations in the world,” he said.

The SE affirmed that the commercial exchange with the European Union (EU) is very important for Mexico, since it has tripled in the last 17 years, going from 20.8 billion US dollars to 61.7 billion US dollars.

From 1999 to June 2017, he added, companies with EU capital invested US $ 174.8 billion in Mexico, amount equivalent to 35.9 percent of the total direct foreign investment received by the country in that period.

According to the agency, the negotiation work could conclude until Thursday, February 22.

Source: Aristeguinoticias.com