Today, August 2, 2017, the Senate released a document entitled “Notice regarding the Initiation of the Negotiations regarding NAFTA’s modernization” that was provided by the Ministry of Economy. In said document, the Ministry of Economy explained the reasons why it should participate in the renegotiation. We highlight the following statements:
Furthermore, the Ministry of Economy also published Mexico’s priorities in NAFTA’s negotiation. In harmony with recent statements from the Mexican Minister of Economy, the document does not specify specific objectives. However, it is mentioned that Mexico has the following priorities: 1. Strengthening the competitiveness of the region, 2. An Inclusive and Responsible Regional Trade, 3. Reap the Benefits of the XXI century economy, and 4. Foster Security and Predictability in North American Trade & Investment.
In that sense, if NAFTA is modernized it should create the following benefits:
In conclusion, the Ministry of Economy stated that the objective is to have an expedite negotiation process and maintain Mexico’s benefits.
antidumping, Chapter 11 NAFTA, Chapter 19 NAFTA, Chapter 20 NAFTA, Energy, Free Trade Agreement, Mexican Ministry of Economy, Mexico, NAFTA, NAFTA negotiation, negotiation, Objectives, Priorities, Rules of Origins, United States, USA