By James Blears
Mexico and the European Union have clinched a fresh and undated Free Trade Agreement, and now only the routine official rubber stamp ratification remains. It’s a rare bright spot amidst a muted and bleak Corona Virus ravaged doom and gloom landscape, which even spans oceans and Continents.
This revamped Trade Agreement with Europe will initiate and generate a major impetus to Mexico’s flagging economy, post Covid 19, which has exacted a terrible loss in human life and dealt a savage body blow to business, trade, finance, commerce and with it jobs.
Almost eighteen million jobs could be at risk in Mexico.
The EU confirms that from now on, almost all trade and goods between itself and Mexico will be entirely duty free. Current annual business tops 75 billion dollars. The EU is Mexico’s third largest trading partner. Trade between them has more than tripled, since the original agreement was initialed, way back in 2001.