Off the wire
• NATO chief highlights closer NATO-EU cooperation  • Increased rice production addresses food security in Namibia  • Update: Iran's hopeful, Agha-Mirsalim, denies drop of presidential bid  • U.S. stocks close higher, rebound from biggest selloff this year  • African officials, experts discuss sustainable development in Morocco  • Chicago agricultural commodities settle lower  • Burundi's fuel crisis is national concern: VP  • U.S. dollar rebounds on upbeat data  • Modern missile systems to account for 72 pct by end of year: Putin  • Namibia launches online business service program  
You are here: 　 Home

Mexico welcomes official U.S. notice to renegotiate NAFTA

Xinhua, May 18, 2017 Adjust font size:

Mexico welcomed on Thursday the news that the U.S. government had formally notified Congress of its intention to renegotiate the North American Free Trade Agreement (NAFTA).

"This is an important step in the internal process of the United States to modernize NAFTA," the Mexican Ministry of Economy said in a statement.

It added that Mexico "reaffirms its willingness to update NAFTA to face the challenges of the 21st century."

"The countries of North America (Mexico, the U.S. and Canada) deserve a modern instrument to regulate their commercial relation," the statement said, adding that this trilateral agreement "has been of immense benefit to all sides."

The U.S. government officially activated the mechanism on Thursday to renegotiate NAFTA by delivering a formal letter to the Congress.

In February, Mexico began its own internal study to prepare for the negotiations.

NAFTA entered into force on January 1, 1994. Since then, trade between the three North America countries has more than tripled, according to official Mexican figures. Endit