Mexican Economy Minister Ildefonso Guajardo (R) and European Commissioners Cecilia Malmstrom  (Photo: AFP)

The two parties said in a joint statement that the new deal adds farm products, more services, investment, and government procurement, and includes provisions on labor and environmental standards. European Commissioners Cecilia Malmstrom said the agreement sends a strong signal of creating opportunities for businesses, sharing a belief in open, fair and sustainable trade.