Mexican president in favor of NAFTA upgrade

President Enrique Peña Nieto expressed his intention to upgrade the North American Free Trade Agreement (NAFTA) as opposed to pursue its renegotiation with the U.S. and Canada.

During his participation in the Summit of the Asia-Pacific Economic Cooperation Forum (APEC), Peña Nieto reaffirmed Mexico’s intention to employ dialogue between nations as a valuable tool to reach agreements and to build a new agenda in the relations between Mexico and the U.S. “We are aware that Mexico and the world are about to begin a new relationship with the U.S.”

The Mexican president spoke out against commercial protectionism and isolation: “We want to reaffirm the value of the commercial relationship that exists between Mexico and U.S. as there are many Mexican and American companies involved in the commercial integration process we want to enhance”.

He added: “We believe that the NAFTA has to be upgraded instead of being renegotiated […] elements can be incorporated into this commercial treaty so as to transform it into a more modern and solid vehicle that will enable us to become more competitive and productive as a region, by reaffirming the strategic relationship that exists among Mexico, the U.S. and Canada”.

President Peña Nieto recognized that there is uncertainty towards the possible consolidation of the Trans Pacific Partenrship Agreement (TPP) considering the views of the president-elect of the U.S., Donald Trump, in relation to free trade.