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Mexico–United Kingdom Free Trade Agreement

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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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