The two parts of the agreement were passed by a large majority on Wednesday, after everything was signed at a summit between the EU and Mexico at the end of May.
The hope is that the agreement will ultimately increase the EU's exports of goods and services to Mexico by 75 percent and save just over one billion Swedish kronor in customs duties annually.
The agreement must now also be formally approved by the EU Council of Ministers before it can enter into force provisionally, pending ratification by all member states at home.
