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Mexico–United Kingdom Free Trade Agreement

From Wikipedia - Reading time: 7 min

Mexico–United Kingdom Free Trade Agreement
  Mexico
  United Kingdom
TypeFree trade agreement
ContextTrade agreement between Mexico and the United Kingdom
Negotiators
Parties
Languages

The Mexico–United Kingdom free trade agreement (MUKFTA) is a proposed free trade agreement which began negotiations on 20 May 2022.[1] The trade agreement would be the third FTA to cover Mexico–UK trade, superseding the Mexico–UK Trade Continuity Agreement, extending the deal to cover financial, creative, digital, services and digital trade.[2]

History

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From 1 July 2000 until 30 December 2020, trade between Mexico and the United Kingdom was governed by the Mexico–European Union Free Trade Agreement, while the UK was a member of the European Union.[3] Following the withdrawal of the United Kingdom from the European Union, the UK and Mexico signed a continuity trade agreement on 15 December 2020, based on the EU free trade agreement; the agreement entered into force on 1 June 2021.[4][5]

On 20 May 2022, Mexico and the United Kingdom announced their intentions start talks on a modernised free trade agreement; the agreement will supersede Mexico–United Kingdom Trade Continuity agreement.[6]

Negotiations

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MUKFTA Round of Negotiations
Round Dates Location Ref.
1 11–15 July 2022 Mexico City [7]
2 31 October–11 November 2022 Virtual meeting [8]
3 15–19 May 2023 Mexico City [9]

Trade negotiations formally opened on 20 May 2022.[1][2]

Due to slow progress in negotiating a new trade agreement, Mexico and the UK agreed in November 2023 to extend their continuity trade agreement for an additional year.[10]

See also

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References

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  1. ^ a b Trevelyan, Anne-Marie (20 May 2022). "UK kicks off talks on modern trade deal with Mexico". GOV.UK. Archived from the original on 20 May 2022. Retrieved 16 March 2024.
  2. ^ a b Smout, Alistair (20 May 2022). "Britain launches free trade deal talks with Mexico". Reuters. Archived from the original on 20 May 2022. Retrieved 16 March 2024.
  3. ^ "EU - Mexico". World Trade Organization. Retrieved 16 March 2024.
  4. ^ Jayawardena, Ranil; Truss, Elizabeth (15 December 2020). "UK and Mexico sign trade deal'". GOV.UK. Archived from the original on 15 December 2020. Retrieved 15 December 2020.
  5. ^ James, William (15 December 2020). "Britain and Mexico agree deal on post-Brexit trade". Reuters. Archived from the original on 23 August 2023. Retrieved 24 April 2024.
  6. ^ "Joint Statement on the launch of the negotiations for a Free Trade Agreement between the UK and Mexico". GOV.UK. 20 May 2022. Archived from the original on 20 May 2022. Retrieved 16 March 2024.
  7. ^ "Mexico and the United Kingdom will hold the First Round of Negotiations for a Free Trade Agreement between the two countries". Relaciones Exteriores. 11 July 2022. Archived from the original on 11 July 2022. Retrieved 24 April 2024.
  8. ^ Badenoch, Kemi (28 November 2022). "Trade Update: CPTPP and Mexico". UK Parliament. Archived from the original on 29 November 2022. Retrieved 24 April 2024.
  9. ^ Huddleston, Nigel (8 June 2023). "Trade Negotiations with Israel, Mexico and Switzerland". UK Parliament. Archived from the original on 13 June 2023. Retrieved 24 April 2024.
  10. ^ Milligan, Ellen (10 November 2023). "UK, Mexico Extend Zero Tariffs Until Free Trade Talks Conclude". Bloomberg. Archived from the original on 14 November 2023. Retrieved 16 March 2024.
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Licensed under CC BY-SA 3.0 | Source: https://en.wikipedia.org/wiki/Mexico–United_Kingdom_Free_Trade_Agreement
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