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Last week was the culmination of two years of negotiation between the European Union and Mexico to reach a new free-trade agreement. The last trade deal occurred in 2000 and that trade deal covered only industrial goods.

Details of the EU-Mexico trade agreement can be downloaded in PDF directly from the EU website here. Part of the new EU/Mexico trade deal changes include:

1. Almost all goods between the Mexico and EU will be duty free;
2. New rules on sustainable development and implementation of Paris Climate Agreement;
3. New rules on investment protection;
4. Simpler customs procedures to help boost exports.

While the terms of the agreement have been reached, the next step is to finalize the agreement, translate into EU languages and then submit the proposed agreement for signature and conclusion to the Council and European Parliament.