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Internet Securities Inc.

European Commission Approves Project to Facilitate EU-Mexico Trade

Strategic Insights

— 1 min read

The European Commission has announced the approval of a project to facilitate and promote trade flows between Mexico and the European Union (EU), with an investment of 16 million euros (US$19.7 million). The project aims to strengthen government institutions responsible for various activities under the EU-Mexico Free Trade Agreement (TLCUE). The European Commission has already paid its share of the investment, 8 million euros (US$9.8 million), and Mexico is expected to pay the remaining 8 million euros (US$9.8 million) although officials have yet to announce when the grant will be made.

Key Takeaways:

  • The European Commission has approved a project to facilitate and promote trade flows between Mexico and the EU, with an investment of 16 million euros (US$19.7 million).
  • The project aims to strengthen government institutions responsible for various activities under the EU-Mexico Free Trade Agreement (TLCUE).
  • The European Commission has already paid its share of the investment, 8 million euros (US$9.8 million).
  • Mexico is expected to pay the remaining 8 million euros (US$9.8 million) although officials have yet to announce when the grant will be made.
  • The project is part of the EU-Mexico Free Trade Agreement (TLCUE) and aims to promote bioregional trade under the framework of this accord.
  • Trade between the EU and Mexico totaled 20.2 billion euros (US$25 billion) in 2003, with 14.1 billion euros (US$17.4 billion) of EU exports and 6.1 billion euros (US$7.5 billion) of Mexican exports.

Statistics:

  • Investment for the project: 16 million euros (US$19.7 million)
  • Amount paid by the European Commission: 8 million euros (US$9.8 million)
  • Amount to be paid by Mexico: 8 million euros (US$9.8 million)
  • Total trade between the EU and Mexico in 2003: 20.2 billion euros (US$25 billion)
  • EU exports to Mexico in 2003: 14.1 billion euros (US$17.4 billion)
  • Mexican exports to the EU in 2003: 6.1 billion euros (US$7.5 billion)

Sources:

  • El Universal
  • Corporate Mexico by Internet Securities, Inc.
  • COMTEX
  • Internet Securities, Inc. (translated abstract)
  • Euromoney Institutional Investor Company.

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