LatinNews Daily - 12 May 2026

*Mexico’s Foreign Minister Roberto Velasco has celebrated the European Council’s authorisation of the modernised global agreement (MGA) between the European Union (EU) and Mexico. Velasco said the agreement represented “a historic step” in Mexico’s relationship with the EU. The European Council authorised the signing of the EU-Mexico MGA, negotiations for which were finalised in January 2025, as well as of an interim trade agreement. In a statement, the European Council said the agreements “mark a major step in modernising the EU’s partnership with Mexico, replacing the current framework established in 2000 and reflecting the evolution of bilateral relations into a comprehensive strategic partnership”, saying they will benefit more than 45,000 EU companies. The EU and Mexico are expected to formally sign the agreements during the EU-Mexico summit on 22 May. The European Parliament will be asked to give its consent before the agreements can be formally concluded and the MGA will only enter into force once all EU member states and Mexico have completed ratification. The interim trade agreement will remain in effect until it is superseded by the entry into force of the full partnership agreement.

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