• “Let us modernize NAFTA. Let us make this a much more powerful, modern vehicle,” he urged.
  • He participated in the Panel Redesigning Commerce at the CEO Summit being held in Lima, Peru as part of the Asia-Pacific Economic Cooperation (APEC) Leaders Meeting.

President Enrique Peña Nieto said today that Mexico’s position regarding the North American Free Trade Agreement (NAFTA) is to update it to make it a more powerful and modern instrument, and achieve a more competitive North American region.

More than 20 years after its entry into force, he said, “We have learned that NAFTA can be modernized; elements that were not considered when the agreement was signed can be incorporated.

During his participation in Panel Number 10: Redesigning Commerce, at the CEO Summit being held here, within the framework of the Asia-Pacific Economic Cooperation (APEC) Leaders’ Meeting, the Mexican President said: “Let us modernize NAFTA. Let's make it a much more powerful, modern vehicle that will enable us to consolidate our position at this strategic meeting between Mexico and the United States and Canada as a far more productive, competitive region in relation to the rest of the world”.

The Mexican president considered that this new phase of relations with the United States of America, “Opens up a great opportunity”.

He said he is, “Optimistic about being able to open up or find a new opportunity to scale NAFTA; to make it a tool and vehicle that will further the strategic partnership between Mexico and the United States”.

As regards President Elect Donald Trump’s position, “We are at the stage of encouraging dialogue as a path to building a new agenda in the bilateral relationship”.

In response to journalist Shawn Donnan, World Trade Editor at Financial Times, who asked him how he expected Mexico's relationship with the United States to change under Mr. Trump’s presidency, President Enrique Peña Nieto said: “We understand that Mexico, like the rest of the world, is about to embark on a new stage in relations with the United States, and in commercial terms, we want to give this strategic relationship the true value it has today”.

He explained that there are many companies, in both the US and Mexico, and many American companies established in Mexico that are part of this integration.

He recalled that in recent years, Mexico has continued to be a country that is open to the world, a country that has really made trade liberalization a route to trigger economic growth and seek economic and social development.

"NAFTA has undoubtedly been a key instrument. Mexico is a strategic partner for the United States, as the United States is for Mexico "

He said that the two countries have significant trade, “Reflected in the million dollars every minute we trade with the United States. That is the level of trade we have today with the United States, and obviously the integration we have with Canada”.

He explained that of every dollar Mexico exports, 40 cents are inputs from the United States, which means that, on both sides, in both countries, there is job creation behind these figures”.

“The perspective Mexico has on the NAFTA is that, in the end, both Mexico and the United States and Canada are a North American region that has been consolidated as one of the world’s major logistic hubs, which also has great potential to become one of the most competitive, productive regions in the world”.

Likewise, he said, “We have trade integration that favors the generation of value chains, particularly with the United States. Both countries produce for our markets and the whole world”.

MEXICO IS COMMITTED TO THE COMPETITIVENESS OF NORTH AMERICA

President Enrique Peña Nieto said that for Mexico, the central relationship, given its geopolitical condition, is with the United States. He added that, “That is where we are looking and where we have been working to achieve much more consolidated integration with North America, given the level of trade and integration we already have”.

He said that, “Mexico will continue to work, or at least that is the vision Mexico wishes to promote today to make this integration a point that will enable this region to be more competitive and productive through integration rather than isolation”.

He confirmed that, “Our vision is clearly identified with North America. That’s where we wish to have an enormous potential, and great progress without isolating ourselves from the rest”.

In addition to the Mexican president, the panel included Prime Minister of New Zealand John Key; CEO of DHL Ken Allen, President of Jumore E-Commerce Henry Lu and Enrique Gubbins, President of the South American Board of Fibers.

President Enrique Peña Nieto declared that in Mexico, “We believe in openness, integration and globalization as a vehicle that should provide development, opportunity, growth and success stories”.

He explained that free trade has brought many of the world’s economies greater development, economic growth and social inclusion.

“I wish to make it quite clear that Mexico will remain a fervent believer in trade liberalization. For Mexico, this has involved a change in the paradigm and the development of our country over the past 30 years”: