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Mexico publishes trade agreement with the United Kingdom after Brexit

Mexico published the trade agreement it signed with the United Kingdom (Agreement), after this country’s exit from the European Union (Brexit).

In addition to this agreement, other related documents were published this Tuesday in the Official Gazette of the Federation (DOF), by the Secretariats of Foreign Relations, Economy and Finance and Public Credit.

First of all, in December 2020, Mexico and the United Kingdom agreed to maintain, as of January 1, 2021, the tariff preferences that both countries have benefited from within the framework of the Free Trade Agreement between the European Union and Mexico (FTAEU).

Given the British exit from the European Union, in January of this year, as well as the conclusion of the transition period, on December 31, 2020, this Continuity Agreement allows to maintain certainty and clear rules in the commercial exchange between Mexico and the United Kingdom. United.

Likewise, Articles 59 and 60 of the Global Agreement (between Mexico and the European Union) will not be incorporated into the agreement between Mexico and the United Kingdom.

Trade agreement with the United Kingdom

Each Party shall notify the other Party in writing, through diplomatic channels, of compliance with its internal procedures required for the Agreement to enter into force.

The Agreement will enter into force on the later date between:

  • The date of receipt of the last notification from the Parties regarding compliance with their internal procedures; or
  • The date the Global Agreement ceases to apply to the UK.

Notwithstanding the provisions and pending its entry into force, the Parties may apply this Agreement provisionally, in accordance with their respective internal procedures, as appropriate.

The provisional application will begin on the date that is later between:

(a) The date you both:

  1. the United Kingdom has notified Mexico of compliance with its internal procedures for this purpose; Y
  2. Mexico has notified the United Kingdom of compliance with its internal procedures; or

(b) The date the Global Agreement ceases to apply to the UK.

 

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