The year 2000 brought sweeping changes to Mexico. On December 1, 2000 Mexican President Vicente Fox Quesada was sworn in as the first democratically elected president in 71 years. The Mexican economy has grown and the Mexican Peso has even gained against the U.S. Dollar. This once strongly nationalistic country with a semi-closed economy has showed its willingness to change with the times by signing the European Union (EU) - Mexico Free Trade Agreement which entered into force on July 1, 2000. This has been a significant boon for European luxury automobiles to be sold in the Mexican automobile market.