As the two nations celebrated 200 years of economic relations, a French trade minister encouraged Mexico to deepen its ties with his country as a means to diversify its markets and supply chains, thereby reducing pressure on its strained trade relationship with the United States.

During the presentation of the France-Mexico Economic Report 2026 on Tuesday, French Minister Delegate for Foreign Trade and Economic Attraction Nicolas Forissier emphasized that France and Mexico share a commitment to multilateralism and to rules-based trade relations. 

Closer modern ties between Mexico and France followed the May 22 signing of the Modernized Global Agreement between Mexico and the European Union (EU), updating an agreement that had been in effect since 2000. The aim is to expand trade and investment, eliminate most remaining tariffs, and improve access to services, investment, and public procurement. It effectively eliminates tariffs on 99% of products traded between the EU and Mexico, significantly facilitating agricultural trade. 

This joint stance is fueled by global trade uncertainty, as the U.S. Trump administration continues to pressure Mexico to meet its demands as part of negotiations to conclude the review of the United States-Mexico-Canada Free Trade Agreement (USMCA). 

Forissier stressed the importance of securing supply chains, especially those linked to critical minerals and rare earth elements, given the risk that these resources could be used as tools for economic pressure.

He said that France views Mexico as a gateway to the Americas, while Paris seeks to position itself as a platform for Mexican companies to access the European Union, North Africa, Sub-Saharan Africa and the Middle East.

Forissier urged French companies to increase their presence and investment in Mexico and called for greater investment from Mexican companies in France to solidify a mutually beneficial economic relationship.

Around 700 French companies already operate in Mexico, including 37 of France’s 40 largest companies, supporting 215,000 direct jobs, according to a report presented by the French Embassy.

Cumulative French investment in Mexico between 2006 and 2025 totaled $13.6 billion, while bilateral trade reached $7.9 billion last year.

The 2026 report indicates that over 50% of the French companies surveyed source more than half of their purchases from Mexican suppliers.

With reports from López-Dóriga Digital and Reporte Indigo