Mexico is becoming a "Global Actor" whereas EU is consolidating as a "Global Civil Power". Latin America is traditionally one of the most important areas for Mexican Foreign Policy as well as it constitutes an important region for testing to what extent is EU capable to extend its influence over its periphery. In this framework, "The Economic Partnership, Political Coordination and Cooperation Agreement EU-Mexico" allowed Mexico to be an EU "privileged partner" for setting up a Bi-regional Strategic Partnership EU-LAC. This book provides the evolution of Mexican Foreign (Trade) Policy towards Europe, as well as the EU political and economical strategy in Latin America over the last ten years. Finally, it states the challenges for both regions taking in mind the International Agenda for XXIst Century. The contents of this manuscript should be useful to academic community who analyse the application of principles in EU negotiations toward third countries with special emphasize in those of Latin America. In addition, it can shed some light for decision-makers, diplomats and businessmen interested on legal framework ruling the trade relations among the referred regions.