European Parliament Committees Approve EU-Mexico Agreement with Critical Raw Materials Chapter

The International Trade and Foreign Affairs committees of the European Parliament approved on June 23, 2026, the modernization of the EU-Mexico Global Agreement, which strengthens cooperation on critical raw materials and projects savings of up to €100 million annually in customs duties for European exporters.

The new text updates the original treaty signed in 2000, when trade in goods between the European Union and Mexico represented a fraction of its current level. Over 25 years, that exchange quadrupled, according to European Parliament data. More than 43,000 EU companies (the majority small and medium-sized enterprises) export to Mexico, and more than 11,000 European firms operate directly in the country. The European Parliament projects an increase of up to 75% in total EU goods and services exports to Mexico under the most ambitious scenario, according to Europa Press. On the energy front, the critical raw materials chapter aims to guarantee European access to minerals fundamental to the energy transition value chain, including inputs for battery manufacturing and clean power generation infrastructure.

The committee approval involves both key parliamentary bodies of the European Parliament, whose favorable recommendation clears the path for the plenary vote. The agreement also protects hundreds of European geographical indications in the Mexican market and modernizes investment and services frameworks. For the region's energy sector, the most concrete value lies in the institutionalization of cooperation on strategic minerals, an area the EU has elevated as a priority in its industrial supply security agenda. Mexico, as a regional producer of strategic minerals relevant to the energy transition, is positioned as a relevant supply node for the European market, consolidating a dual commercial link with its main partners: North America through the USMCA (United States-Mexico-Canada Agreement) and now Europe through this new bilateral framework.

The next formal step is the European Parliament plenary vote, scheduled for July 2026 in Strasbourg, followed by adoption by the EU Council. How the critical raw materials chapter evolves during that process will determine the real scope of energy cooperation between both regions.

This article was written with the assistance of artificial intelligence based on verified sources and reviewed by a human editor before publication.