Mexico's priorities for the negotiations to modernize NAFTA | Meksikon päätavoitteet neuvotteluissa NAFTAn uudistamiseksi
- The first round of trade negotiations among Canada, the US, and Mexico towards the modernization of the NAFTA begin today, and will take place until August 20, in Washington D.C.
The North American Free Trade Agreement (NAFTA) between the United States, Canada, and Mexico entered into force on January 1, 1994, and created the world’s largest free trade area. NAFTA links more than 470 million people producing more than $20 trillion worth of goods and services annually (2016). The dismantling of trade barriers and the opening of markets has led to economic growth and rising prosperity in all three countries.
NAFTA has increased Mexico’s overall trade as well as brought about a wave of foreign direct investment; it has increased the competitiveness of Mexican industry; helped improve Mexico’s regional development, particularly along the Northern border.
Mexico is the second largest destination for U.S. exports and third largest source of imports (this is without considering the European Union). The United States and Mexico have transformed the nature of the bilateral relationship from one of competition to one of partnership. For the U.S. and Mexico cross-border trade often occurs in the context of production sharing. People in each nation work together to create goods and regional supply chains crisscross the U.S.-Mexico border.
The first round of trade negotiations among Canada, the US, and Mexico towards the modernization of the NAFTA begin today, and will take place until August 20, in Washington D.C.
The modernization of NAFTA is an opportunity to increase its success, to face today’s challenges and to adjust our integration model to take full advantage of the opportunities offered by the economy of the 21st century.
To advance towards that goal, the government of Mexico drafted a group of priorities which are arranged in four central topics in order to strengthen Mexico’s position in the global economy, to increase free trade benefits in our society and to reposition North America as one of the most competitive regions.
Get to know the Mexican priorities at the negotiation:
- Priorities of Mexico in the negotiations for the modernization of the North American Free Trade Agreement (pdf).
- Meksikon päätavoitteet neuvotteluissa Pohjois-Amerikan vapaakauppasopimuksen uudistamiseksi (pdf).
- Prioridades de México en las negociaciones para la modernización del Tratado de Libre Comercio de América del Norte (pdf).