Updated 8 months ago

Mexico “ready” to modernize NAFTA

Mexican Foreign Secretary Claudia Ruiz Massieu said on Monday that Mexico is “ready” to update the North American Free Trade Agreement, or NAFTA, enacted in 1994.

The foreign secretary, who was in the capital Monday for the inauguration of the forum celebrating the 25 years of the Ibero-American Summit, said the country has already recognized how “important” it is to modernize the agreement.

“We’ll make an effort to do so if it is suggested by our other two partners in the agreement,” Ruiz Massieu said about the treaty signed by her country, the United States and Canada.

The foreign secretary was responding to comments by the Republican candidate for the White House, Donald Trump, who said that if he is elected president he will try to renegotiate NAFTA conditions to get a better deal for workers.

But he also warned that “we will either renegotiate it or we will break it.”

And while the real estate mogul calls NAFTA a “disaster,” Mexico’s foreign secretary said it has given “great results” to all of its three partners.

Among those, she hailed the 300 percent hike in interregional trade and an increase in bilateral trade between Mexico and the United States of some 500 percent.

Ruiz Massieu noted that the agreement “has boosted investments and created millions of jobs” in the region, while insisting that it is in Mexico’s interest “to continue building North America as the most prosperous, most competitive region in the world.”