On Saturday, the European Union and Mexico came to an agreement about renewing their existing tradel deal. The new deal replaces the agreement made in 2000. The deal is almost ready, but negotiations over technical details continue. The Finnish Government said they expect the final agreement to be ready by the end of the year.
Minister of Foreign Trade and Development Anne-Mari Virolainen said the new deal was welcome because it changes outdated trade rules to match the needs of companies, removes duties and creates improved opportunities for Finnish companies on the Mexican market. The deal is particularly significant at a time when open trade and related cooperation has been questioned by many, Minister Virolainen added.
The deal covers the trade of goods and related regulations as well as investments and the trade of services. It is the first EU trade deal to include anti-corruption regulations.