Reyes Maroto: "Spain calls for speeding up the entry into force of the modernised EU-Mexico Global Agreement"

As part of this forum, the minister took part in the Economic-Financial Affairs subcommittee, where various issues and collaboration schemes in the areas of trade, finance, tourism, transport, mobility, the urban agenda, telecommunications and the digital agenda, agriculture and food were discussed.

For Reyes Maroto, "Spain is in the best position to continue strengthening cooperation in the areas that are of interest to Mexico. In this regard, we want to speed up negotiations for the entry into force of the modernised Global Agreement between the EU and Mexico, along the same lines as the one approved a week ago with Chile. Our intention is that the agreement can enter into force during the Spanish Presidency of the Council of the European Union, in the second half of 2023. Modernising these agreements is of vital importance, to address new global challenges and developments in bilateral relations between the two parties".

According to the minister, "this agreement will strengthen our ties with Chile as a strategic trade and investment partner". Vis-à-vis the current economic difficulties, this decision will increase the diversification and resilience of EU and Chilean supply chains, improve access to key inputs for the EU and increase export and investment opportunities for our companies, underpinning the necessary economic recovery in both regions".

Business meeting

Maroto also attended a Spanish-Mexican business meeting at the Spanish Chamber of Commerce, where she was accompanied by the Minister for Foreign Affairs, European Union and Cooperation, José Manuel Albares. There, she highlighted the strength of trade relations between Spain and Mexico, which is reflected in the positive evolution of trade, now at pre-pandemic levels.

For years, Spain has been the world's second largest investor in Mexico, with $80 billion invested since 1999 and approximately 7,000 companies with Spanish capital, some of which are present here today and whose commitment and social responsibility undoubtedly play a fundamental role in Mexico's development.

"Despite a complex international environment of great uncertainty, with historic falls in the levels of foreign investment worldwide, Spanish investment flows in Mexico have been maintained," said the Minister for Industry.

Spain has become increasingly important for Mexican investors. Mexico is already the sixth largest investor in our country, with €30 billion invested through more than 500 companies, which generate more than 20,000 direct jobs.

"Our objective is to deepen this growing presence, to increase the number of Spanish companies in Mexico and Mexican companies in Spain, to strengthen the good image of Spain and Spanish products and services in this country and to reinforce institutional relations between the two administrations," concluded Maroto.

Non official translation