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The EU’s Chief Spokesperson for Foreign Policy, Kaja Kallas, stated on Thursday that updating its trade agreement with Mexico will remove commercial obstacles as global economies shift toward protectionist policies.

Mexico and the EU are set to finalize the updated agreement on Friday. The ceremony occurs while the Mexican government is working on modifications to the USMCA trade deal with its primary trading partner, the United States, along with Canada.

“This agreement will eliminate the last obstacles to trade and investment, including key areas like raw materials, agriculture, and services,” said EU foreign policy chief Kaja Kallas during a press conference with Mexican Foreign Minister Roberto Velasco.

Kallas mentioned that the update will further enhance supply chains and create new prospects that will “aid both economies in competing on a global scale.”

“The European Union is Mexico’s third biggest trading partner. Our trade has increased by 75% in the last ten years,” she stated.

The agreement is set to be signed on Friday in Mexico City, the capital of Mexico, involving President Claudia Sheinbaum and Ursula von der Leyen, who leads the European Commission.

Mexico imported nearly $67 billion (€57.7 billion) worth of goods from Europe in 2025, while sending approximately $28 billion (€24.1 billion) back in exports.