Key Figures Meet at G7 Summit
During the recent G7 summit in Canada, Mexico’s President Claudia Sheinbaum met with Ursula von der Leyen, the President of the European Union. Following their meeting, Von der Leyen expressed her anticipation on Twitter: “Dear @Claudiashein, Mexico is a key partner for Europe… We hope to sign our modernized EU-Mexico agreement and visit you in Mexico!” The next day, President Sheinbaum confirmed that the trade agreement is ready for signature, set to take place early in 2026, with Von der Leyen planning a visit to Mexico in October.
Growing Economic Partnership
The relationship between Mexico and the EU is strengthening, with the EU being Mexico’s third-largest trading partner after the US and China, and its second-largest foreign investor. In 2024, goods trade surpassed €82.4 billion, while in 2023, services trade reached €22 billion. European investments total nearly €200 billion, but beyond the numbers, the EU represents a concrete option for Mexico to diversify its commercial links and reduce dependence on the volatile US.
Modernized Agreement Details
The modernized Global Agreement between Mexico and the EU, concluded in January of this year, nearly eliminates tariffs, expands access to public procurement contracts, and strengthens investor guarantees in key sectors like energy and telecommunications. It also establishes commitments on climate change, human rights, digital trade, and anti-corruption efforts. This is a broad and strategic agreement; however, it won’t enter into force until both parties ratify it.
Ratification Process and Challenges
In Mexico, ratification depends on the Senate, expected between September and October. In the EU, the process is more complex: it requires approval from the Parliament, the European Council, and the 27 national parliaments. This phase could extend until mid-2026, depending on each country’s political priorities.
The ongoing conflict between Israel and Iran, impacting energy markets and European foreign policy, might delay the process. With shifting priorities among several European governments, ratification could be postponed.
Shared Priorities and Personal Connection
Despite these challenges, the meeting between Sheinbaum and Von der Leyen remains significant due to shared interests in sustainability, energy, and trade. Both women, born just a few years apart, share a pragmatic approach to priorities like climate change, energy transition, and multilateralism. Their preference for concrete results over ideological speeches or empty gestures facilitates cooperation.
Benefits of the Agreement for Mexico
Mexico stands to benefit from closing this agreement sooner rather than later. The EU offers market access, investment, technology, and clear rules—advantages that Mexico should capitalize on by having a reliable partner like the EU. If President Sheinbaum secures swift Senate ratification and Von der Leyen achieves the same in the EU, the agreement could enter into force at the beginning of 2026. Two women can make this possible.
Key Questions and Answers
- What is the significance of the meeting between Claudia Sheinbaum and Ursula von der Leyen? The meeting highlights shared priorities in sustainability, energy, and trade between Mexico and the EU, reinforcing their growing partnership.
- What does the modernized EU-Mexico agreement entail? The agreement nearly eliminates tariffs, expands access to public procurement contracts, strengthens investor guarantees in key sectors, and establishes commitments on climate change, human rights, digital trade, and anti-corruption efforts.
- What challenges could delay the agreement’s ratification? The ongoing conflict between Israel and Iran, along with shifting priorities among European governments, might postpone the ratification process.
- Why is this agreement important for Mexico? The EU offers market access, investment, technology, and clear rules—advantages that Mexico should leverage by having a reliable partner like the EU.
