Explanatory Memorandum to COM(2008)372 - Community position within the EU/Mexico Joint Council concerning the amendments to the Joint Council Decision 2/2001

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dossier COM(2008)372 - Community position within the EU/Mexico Joint Council concerning the amendments to the Joint Council Decision 2/2001.
source COM(2008)372 EN
date 19-06-2008
The EU/Mexico Free Trade area was established by decisions of the EU Mexico Joint Council. Consequently the necessary adaptations to the trade provisions, following the EU enlargement to Romania and Bulgaria, are made by means of Joint Council decisions and have not been addressed into the Additional Protocol to the EU/Mexico Agreement that is also submitted for Council approval via another procedure.

The EU/Mexico Joint Council Decision 2/2001 provides for the liberalization of trade in services between the Parties in accordance with Article V of the GATS. Following the EU enlargement some adaptations are needed, in particular as regards its Annex I (limitations on market access and national treatment with respect to financial services) and Annex II (authorities responsible for financial services).

On 23 October 2006 the Council authorised the Commission to negotiate those adaptations. Subsequent negotiations with Mexico resulted in an agreement to transpose within Annex I of Decision 2/2001 the limitations on market access and national treatment listed in the GATS schedules of the new EU Member States. Annex II of Decision 2/2001, listing the authorities responsible for financial services, has also been updated by the Parties.

The Commission therefore recommends the Council to adopt the enclosed Council Decision as the EU common position on the proposed EU/Mexico Joint Council Decision in annex.