Mexico Must Continue to Develop Within FTA Despite Obstacles
Despite the difficulties, Mexico's chances of being a part of the Free Trade Agreement (FTA) with its key partners, the United States and Canada, are high.
The president of the Association of Mexican Entrepreneurs (AEM) in San Antonio, Texas, Javier López de Obeso, said that the country has a great chance to stay in the Free Trade Agreement (FTA) with its major partners, the United States, and Canada, even if there are problems because private initiative must continue to grow.
"The FTA has made important steps forward, and trade is getting stronger, but the US, Mexico, and Canada have to have clear anti-corruption systems," said Javier López, who thought this was a great chance for the three countries.
"If new changes are proposed, we will see what will be done in this regard, but businessmen must focus on continuing to generate greater wealth and, in this way, create more jobs," he said.
For the above, he said that it is necessary to have a long-term vision since that is precisely what Mexico needs to understand, in addition to the fact that policies must do their job even if there are obstacles, as former President Donald Trump is doing. There are still 25 years to go, but the private sector plays an important role in participating and taking advantage of what has been achieved so far.
Overview of the Free Trade Agreement (FTA) Between Mexico, the United States, and Canada
The Free Trade Agreement (FTA) between Mexico, the United States, and Canada is a trade pact that aims to eliminate tariffs and other barriers to trade between the three countries. The FTA, which is also known as the North American Free Trade Agreement (NAFTA), was signed into law in 1993 and went into effect on January 1, 1994.
Under the terms of the FTA, most tariffs and other trade barriers have been eliminated or reduced between Mexico, the United States, and Canada. This has facilitated increased trade and investment between the three countries and has contributed to economic growth and job creation in all three countries.
The FTA has not been without controversy, however. Some critics argue that the agreement has led to the outsourcing of jobs to Mexico, where labor is cheaper, and has contributed to wage stagnation in the United States and Canada. Others argue that the FTA has brought significant benefits to all three countries, including increased trade and investment, and has helped to integrate the North American economy.