Text Of Agreement With Mexico

    The investment phase (Section V, Articles 45 to 49) mainly provides for the liberalization and protection of certain payments and transfers related to foreign direct investment (Article 46) and the promotion of investments between the Contracting Parties (Article 47). Negotiations with Mexico began in May 2016 and the two sides reached an agreement in principle on the trade side in April 2018. The provisions of the Agreement relating to services are of considerable importance to the EFTA States. The “General Services” section covers the four types of services within the meaning of the WTO GATS (Article 19) as well as all services sectors, including maritime services, financial services, telecommunications, distribution, energy, audiovisual tourism and the environment, with the exception of air transport. In the financial services sector, for which a separate section has been negotiated (Section III, Articles 28 to 43), a new standstill obligation has been introduced (Article 34) and the parties have listed the measures they maintain in breach of Articles 29 to 33 (Article 34, Annex VIII), most of which are subject to further elimination from three years after the entry into force of the Agreement (Article 34, paragraph (3). The Financial Services Division ensures that EFTA banks and insurance companies are allowed to operate directly on Mexican territory and to establish themselves directly on Mexican territory on equal terms with the financial service providers of other Mexican privileged partners. The European Union and Mexico have reached an “agreement in principle” on the main trade elements of a new Association Agreement BETWEEN the EU and Mexico. The new agreement replaces a previous EU-Mexico agreement of 2000. . .