I wholeheartedly welcome the fact that Mexico and the European Commission have reached a consensus on the modernisation of the joint Global Agreement. The consensus is an important step along the way to strengthening the rules-based international order. I specifically emphasised this in a phone call with my Mexican opposite number Marcelo Ebrard today.

Our hope is that a modernised agreement will bring advantages for consumers on both sides of the Atlantic. The Agreement will also help ensure that international labour and social standards are enforced. It prohibits environmental and social dumping and obliges the contracting parties to consistently implement the Paris Climate Agreement. We now intend to work together to rapidly implement the modernised Agreement. That will also send a strong message for economic recovery and the safeguarding of our supply chains, not least against the backdrop of the COVID-19 pandemic.