Reyes Maroto: "Spain calls for speeding up the entry into force of the modernised Global Agreement between the EU and Mexico"
The Minister of Industry, Trade and Tourism, Reyes Maroto, has travelled to Mexico to attend the 13th meeting of the Mexico-Spain Binational Commission. As part of this forum, she took part in the subcommittee on Economic-Financial Affairs, where various issues and collaboration schemes in the areas of trade, finance, tourism, transport, mobility, urban agenda, telecommunications and digital agenda, as well as agriculture and food were discussed.
For Minister Reyes Maroto, "Spain is in the best position to continue strengthening cooperation in those areas that are of interest to Mexico. In this regard, we want to speed up negotiations so that the modernised Global Agreement between the European Union and Mexico can enter into force, along the same lines as the one approved a week ago with Chile. Our intention is for the agreement to enter into force during the Spanish Presidency of the Council of the European Union, in the second half of 2023. It is very important to modernise these agreements, in order to face the new global challenges and the evolution of bilateral relations between both parties".
According to Reyes Maroto, "the agreement will strengthen our ties with Mexico as a strategic partner in the area of trade and investment. In the face of the current economic difficulties, this decision will increase the diversification and resilience of EU and Mexican supply chains, increasing 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 of 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, which has reached pre-pandemic levels.
For years, Spain has been the world's second largest investor in Mexico, with 80 billion dollars 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 of Industry.
Spain is increasingly important for Mexican investors. Mexico is already the sixth largest investor in Spain, with 30,000 million euros invested through more than 500 companies, which generate more than 20,000 direct jobs.
"Our objective is to deepen this growing presence, increase the number of Spanish companies in Mexico and Mexican companies in Spain, strengthen the good image of Spain and Spanish products and services in this country and reinforce institutional relations between both administrations", concluded Maroto.
Americas Coordinator: José Antonio Sierra
