This paper reviews the way in which Mexico and the European Union (EU) established a strategic partnership. In a globalized world and following the Washington Consensus both signed, in March 2000, a Free Trade Agreement (TLCUEM) which entered into force in October 2000. The good results of the bilateral exchanges plus important events in the world encouraged them, in 2016, to renovate the legal framework of the original Agreement. At the end of 2017, the negotiators finished the revised chapters of political dialogue and cooperation and on April 2018 they reached an agreement in principle on a modernized trade pillar of the EU-Mexico Global Agreement (GA). By 2020, negotiations were over. It is expected that after the trade pillar's legal scrutiny and translation, it will become part of the three-pronged GA that will also contain revamped political dialogue and cooperation pillars. After 20 years of its subscription, results are promising. Representing 26% of world GDP, the EU is a key partner for Mexico, and Mexico, with 12 free trade agreements signed with 46 countries, for the EU. The cooperation has encouraged exchanges in subjects of common interest, such as the fight against pandemic and gender equality. [ABSTRACT FROM AUTHOR]