Mexico and the European Union will sign a Modernised Global Agreement and Interim Trade Agreement on May 22 at the eighth EU-Mexico Summit in Mexico City, La Jornada reported. The Interim Trade Agreement requires ratification by the Mexican Senate and the European Parliament, while the broader Modernised Global Agreement will also require approval from all 27 EU member states.

The agreements eliminate remaining bilateral tariffs, open Mexican state-level public procurement to EU bidders, liberalize services, introduce a dedicated digital trade chapter, establish an Investment Court System (ICS) to replace ad hoc investor-state arbitration, and create a framework for cooperation on critical raw materials.