European Commission President Ursula von der Leyen announced €5 billion in investments in Mexico under the Global Gateway investment plan and signed a modernised Global Agreement with Mexican President Claudia Sheinbaum at the EU-Mexico summit on 22 May 2026. The agreement removes remaining trade barriers, facilitates investment, and creates a level playing field for businesses on both sides.
Von der Leyen outlined three main novelties of the agreement. First, on investment, the €5 billion package focuses on clean energy, electricity lines, port decarbonisation, and harmonised rules for pharmaceutical companies, aiming to create local jobs and technology transfers for Mexicans while strengthening supply chains. Second, on trade, the agreement removes almost all remaining barriers, including tariffs and restrictions on critical raw materials such as fluorite, copper, and zinc, which are essential for electrification and the clean transition. Trade between Mexico and Europe has already quadrupled since the original Global Agreement entered into force 25 years ago. Third, on market access, the agreement opens Mexico's services sector for European companies in telecom, financial services, transport, and digital trade, while granting Mexican companies access to EU public procurement at both national and state level – a privilege no other partner enjoys in Mexico.
In her concluding remarks, von der Leyen stressed that Mexico is a land of opportunity requiring predictability, fairness, and stable rules, particularly on taxation. She highlighted the potential for cooperation in artificial intelligence, renewables, and clean technology, and noted that the economies are complementary, from critical raw materials to food and drinks. The agreement builds on 25 years of trusted economic relations, with von der Leyen stating that the best times of the partnership are yet to come.
The summit also included a meeting with a business delegation from both regions, where leaders exchanged perspectives on further strengthening economic ties. The modernised Global Agreement is expected to boost bilateral trade and investment, providing a predictable and open market environment amid global volatility.
Stakeholder impacts: European and Mexican businesses gain improved market access and reduced trade barriers, particularly in services and public procurement, which could lower costs and expand opportunities. The €5 billion investment package benefits clean energy and infrastructure sectors, creating jobs and technology transfers. However, increased competition may pressure domestic firms in sectors like telecom and financial services. The agreement also strengthens supply chain resilience for critical raw materials, supporting the EU's clean transition goals. Overall, the deal represents a significant deepening of economic integration between the EU and Mexico, with moderate to major positive impacts for trade-dependent industries and investors.