On 13 May 1996, the General Council of the European Union approved a mandate to negotiate an agreement with Mexico. Negotiations began in October 1996. On 8 December 1997, the European Union and Mexico signed an agreement consisting of three pillars: an agreement on economic partnership, political cooperation and cooperation (known as the « comprehensive agreement »), which laid the groundwork for the negotiation of a free trade agreement between Mexico and the European Union; an interim agreement on accompanying measures (called the « interim agreement ») which was the framework and mechanisms for trade liberalization and a final act. The eighth round of negotiations took place in Mexico City from 8 to 7 January 2018. The ninth round of negotiations began on 12 February 2018 in Mexico City. On 21 April 2018, Mexico and the European Union concluded negotiations for a new global agreement. The new agreement includes political, economic and cooperative aspects to strengthen political dialogue, boost trade and investment and strengthen technical and scientific cooperation between the two sides. On 14 July 1998, a joint committee of the interim agreement was established and negotiations were initiated for a free trade agreement. Nine rounds of negotiations took place between November 1998 and November 1999. Negotiations on the free trade agreement between Mexico and the EU, concluded on 24 November 1999. Both sides are in the process of finalizing the legal revision of the text of the modernized agreement. After translation into all EU languages, it is sent to EU Member States and the European Parliament for signature and conclusion.
The new agreement will replace a previous agreement between the EU and Mexico in 2000. The agreement was adopted by the Council of the European Union on 28 September 2000, after the contracting parties stagnated the necessary notification to enter into force of the agreement and came into force on 1 October 2000. As in 1997, when the Economic Partnership, Political Coordination and Cooperation Agreement (comprehensive agreement, which came into force in 2000) was concluded, Mexico and the European Union have written a new page in their history by negotiating the most advanced agreement of its kind. In addition to the inclusion of a strong section that adds new areas of trade and investment promotion, thereby strengthening our trade and economic relations, it also encompasses political and cooperation aspects that both Mexico and the European Union, as global players, will highlight for the benefit of their societies. On 30 May 2016, Mexico and the European Union formally began talks to update their current free trade agreement. The first round of negotiations for the modernization of the agreement was held in Brussels, Belgium, on 13 and 14 June 2016. The second round of negotiations for the modernization of the agreement was held in Mexico City from 22 to 25 November 2016. The conclusion of this new agreement between Mexico and the European Union sends a strong message to the world on the importance of keeping markets open, cooperating multilaterally to meet our global challenges and working together for the good of humanity. In April 2018, the EU and Mexico reached an « agreement in principle » on the trade side of a modernised global agreement between the EU and Mexico. On 28 April 2020, Mexico and the European Union concluded negotiations on modernising the trade pillar of the agreement. This was the last outstanding element of their new trade agreement. On behalf of the Mexican government, the ministries of foreign affairs and the economy announce the success of negotiations for a new global agreement with the European Union.
It covers political, economic and cooperation aspects, in order to strengthen political dialogue, boost trade and investment and strengthen technical and scientific cooperation in the interests of both companies. The interim agreement, which was to be in force until the comprehensive agreement came into force, was approved by the Mexican Senate on 23 April 1998.