The European Union and Mexico reached an agreement for an FTA. The only step missing is the signature and ratification of this agreement. This has real implications for EU companies wishing to invest in a market with more than 120 million customers, almost all trade in goods will be duty-free between the Latin American country and the EU. This will allow Mexico, which already is the largest Latin American trade partner of the EU, to consolidate this position, allowing an increase from the 85 billion euros in trade that it already represents.
More information here.