What do you need to know about this?
This is not a new trade agreement, it is a renewal of a trade agreement from 2000. According to Brussels, the new agreement will benefit European agriculture, the machinery industry and companies making materials for the transport sector, among others.
"Today's agreement is also a strong signal to other partners that it is possible to renew existing trade relationships if both partners believe in the values of openness and free fair trade," said Cecilia Malmström, EU Trade Commissioner.
In 2017, the total trade in goods between the EU and Mexico amounted to some 62 billion euros. Of this, more than 60% (38 billion Euro) were exports. In terms of employment, trade with the Latin American country means a link with some 400,000 jobs across the European Union. Brussels expects an increase in this as a result of the renewed trade agreement. So, good news!
Here are a few key points from the renewed agreement:
- Less import duties
- Facilitating customs procedures
- Less formalities for trade in industrial products
Please note that in order to benefit from the preferential tariff with Mexico, a EUR1 certificate must be issued in the country of shipment. This certificate serves to prove the origin when the import declaration is made at destination. Regular exporters to Mexico have the option to apply for an Authorised Exporter Permit from Dutch Customs. Companies in possession of such a permit can suffice with a declaration of origin with the permit number on the commercial invoice accompanying the shipment and do not need to issue a EUR1 certificate each time.
To avoid surprises, it is also important to always check whether certain products are excluded from the scheme. We can advise you both when checking whether a product is covered by the regulation and when issuing a certificate.
Source: Nieuwsblad Transport / ANP.
ENGELS 
NEDERLANDS