Home Business-newBusiness Mexican government initiates NAFTA review with private sector

Mexican government initiates NAFTA review with private sector

by Yucatan Times

The federal government will begin a process of consultation with the private sector, prior to the negotiation of the North American Free Trade Agreement with the US, which will continue on a permanent basis.

The Mexican government will initiate this formal consultation process with the private sector and other relevant stakeholders for 90 days to set the parameters that will guide the review and deepening of the North American Free Trade Agreement (NAFTA).

Federal government to review NAFTA with Private Initiative (Photo: ustr.gov)

The Ministry of Foreign Affairs (SRE) and the Ministry of Economy (SE) pointed out that this process will continue permanently once the negotiation begins, according to Notimex.

“This consultation in Mexico begins simultaneously with the similar process that the US government will carry out internally for its own purposes”, the ministry said in a statement.

The consultation process in Mexico will be coordinated by the Secretariat of Economy through the established regular mechanisms and with an active participation of the Senate of the Republic, according to its corresponding powers in matters of foreign policy.

“This consultation process is absolutely necessary to achieve a modernization of NAFTA that serves the national interest, as it is being done in the case of the Agreement between Mexico and the European Union, a negotiation that will also take place in 2017,” the SRE statement concluded.

Source: https://sipse.com/

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