Launch of MexChamEU Aims to Expand Bilateral Trade

On July 17, Rogelio Granguillhome Morfín, Head, Mexican Mission to the European Union, led the launch of the Mexico-European Union Chamber of Commerce (MexChamEU) in Brussels, Belgium. This new initiative aims to strengthen economic ties, foster business collaborations, and enhance trade relations between Mexico and the 27 states of the European Union.

“MexChamEU builds on existing efforts to boost bilateral trade by targeting high-growth sectors such as technology, agriculture, manufacturing, and renewable energy. The initiative also seeks to attract European investment to Mexico, fostering mutual economic benefits,” stated the Mexican government in a press release.

Gokhan Kantarcigil, President, MexChamEU, expressed his enthusiasm for the project amid the rapidly evolving global trade landscape. “Our mission is to create new opportunities, drive economic growth, and stimulate innovation by harnessing the strengths of both Mexico and the EU.”  The new chamber will prioritize supporting SMEs in accessing new markets by providing insights and networking opportunities. The chamber will also advocate for trade-friendly policies and work to address obstacles to economic collaboration.

EU-Mexico Relations

In 2023, the European Union emerged as Mexico's third-largest trading partner, with bilateral trade in goods reaching €81.7 billion (US$$89.2 billion), following the United States and China. The EU also stands as the second-largest foreign direct investor in Mexico, following the United States. Key imports from Mexico to the EU include machinery and appliances, transport equipment, mineral products, optical and photographic instruments, and chemical products. On the export front, the EU was Mexico’s second-largest market, with exports totaling €28.6 billion. The EU continued to have a trade surplus with Mexico, which expanded from €21.1 billion in 2022 to €24.6 billion in 2023.