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Luis Videgaray Caso: a Mexican take on Nafta

The North American Free Trade Agreement is ripe for an update that benefits all parties. But if the US decides to pull out, Mexico is confident that its network of agreements and many enacted reforms will enable it to thrive, says the country’s secretary of foreign affairs, Luis Videgaray Caso.
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The launch of the North American Free Trade Agreement (Nafta) renegotiation process in August 2017 represents an important opportunity for Mexico, the US and Canada. There is ample room to improve and update a 23-year-old agreement to consolidate North America’s position as one of the most competitive manufacturing powerhouses in the world.

First of all, sectors that were not part of the original agreement can be incorporated, and current provisions for sectors that experienced significant transformations, taking advantage of technological and regulatory changes, need to be modernised. These sectors include digital trade (which has become an increasingly important part of the global economy), energy and telecommunications – which, thanks to Mexico’s structural reforms, are now open to private investment and competition.

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Silvia Pavoni is editor in chief of The Banker. Silvia also serves as an advisory board member for the Women of the Future Programme and for the European Risk Management Council, and is part of the London council of non-profit WILL, Women in Leadership in Latin America. In 2019, she was awarded an honorary fellowship by City University of London.
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