The agreements introduce advanced rules on customs and trade facilitation, digital trade, public procurement and competition, ensuring a more level playing field between European Union and Mexican companies. The iTA also expands protection for geographical indications, allowing emblematic Mexican products to obtain greater recognition and protection across European Union markets. In addition, the agreements promote closer institutional collaboration on intellectual property matters.
As a result of these measures, thousands of Mexican and European Union companies can benefit from the modernized framework, although consent from the European Parliament is required before the agreements are concluded, and ratification by European Union member states is also needed for the MGA to enter in force.
