Mexico's export sector is laboring under an atmosphere of "uncertainty" now that the 1994 North American Free Trade Agreement (NAFTA) is under scrutiny and revision, a business leader said on Thursday.
Valentin Diez, President of the Mexican Business Council for Foreign Trade, Investment and Technology (COMCE), said renegotiating the two-decade trade deal has thrown the future of Mexico's trade ties with the United States and Canada, its NAFTA partners, into doubt.
Diez, who is also president of the advisory board of Mexican beer giant Grupo Modelo, addressed the opening of the 24th Mexican Foreign Trade Congress, being held in the southern capital city of Oaxaca through Friday.
Despite the uncertainties introduced by the new U.S. administration and its push to amend the agreement, "Mexico has maintained great dynamism in its exports.
However, the renegotiation of the North American Free Trade Agreement has introduced a certain uncertainty into our ties with our main NAFTA partners," said Diez.
Still, Diez said he doubted U.S. President Donald Trump will "unilaterally withdraw from the trade agreement."
The U.S. market accounts for some 80 percent of Mexico's exports, a reality that underscores the importance NAFTA holds for the Latin American nation.
Since Trump's campaign to negotiate a better deal for U.S. industry, Mexico has looked to diversify its export markets.
"One of the challenges the export sector faces is that of venturing into other countries and economic and geographic regions," said Diez.
Participants at the congress plan to take a detailed look at NAFTA and Mexico's trade ties with other parts, such as the European Union and the rest of Latin America, and also discuss e-commerce, alternative energies and other matters.
Diez said he also hoped to see proposals to boost Mexico's "competitiveness, our export capacity and consolidation as a very important player in international trade."
Valentin Diez, President of the Mexican Business Council for Foreign Trade, Investment and Technology (COMCE), said renegotiating the two-decade trade deal has thrown the future of Mexico's trade ties with the United States and Canada, its NAFTA partners, into doubt.
Diez, who is also president of the advisory board of Mexican beer giant Grupo Modelo, addressed the opening of the 24th Mexican Foreign Trade Congress, being held in the southern capital city of Oaxaca through Friday.
Despite the uncertainties introduced by the new U.S. administration and its push to amend the agreement, "Mexico has maintained great dynamism in its exports.
However, the renegotiation of the North American Free Trade Agreement has introduced a certain uncertainty into our ties with our main NAFTA partners," said Diez.
Still, Diez said he doubted U.S. President Donald Trump will "unilaterally withdraw from the trade agreement."
The U.S. market accounts for some 80 percent of Mexico's exports, a reality that underscores the importance NAFTA holds for the Latin American nation.
Since Trump's campaign to negotiate a better deal for U.S. industry, Mexico has looked to diversify its export markets.
"One of the challenges the export sector faces is that of venturing into other countries and economic and geographic regions," said Diez.
Participants at the congress plan to take a detailed look at NAFTA and Mexico's trade ties with other parts, such as the European Union and the rest of Latin America, and also discuss e-commerce, alternative energies and other matters.
Diez said he also hoped to see proposals to boost Mexico's "competitiveness, our export capacity and consolidation as a very important player in international trade."
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