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Mexico–United Kingdom Free Trade Agreement
Proposed free trade agreement between Mexico and the United Kingdom From Wikipedia, the free encyclopedia
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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]
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History
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]
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Negotiations
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]
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See also
References
External links
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