Agreement between Mexico, The United States and Canada.

The Mexican Secretary of Economy reported that the first meeting of the Free Trade Commission of Mexico, United States and Canada Treaty was held. Ambassador Katherine Tai, United States Trade Representative, hosted the virtual meeting, and was attended by Mary Ng, Minister of Small Businesses, Export Promotion and International Trade of Canada, and the Secretary of Economy of the Government of Mexico, Tatiana Clouthier.

The three ministers were accompanied by their respective delegations.  

“T-MEC consolidated the decision of the three countries to strengthen economic integration in North America, in favor of the complementarity of their economies, which sustains and guarantees the competitiveness of the region, “said the Secretary of Economy in a statement.  

She added that this Agreement modernized the commercial relationship and adapted it to the challenges of the 21st century.

“The First Meeting of the Free Trade Commission represents the opportunity to review the progress of the operation of the Agreement almost a year after its start, as well as the agreement on the construction of an inclusive trade policy for North America that allows us to overcome the challenges we face and walk, together, towards an inclusive economic recovery for the three countries “, indicated the Mexican Secretary of Economy.  

On its behalf, the Office of the United States Trade Representative (USTR) commented that the T-MEC modernized the commercial relationship between the three countries for the 21st century.  

“The Free Trade Commission is the first step in harnessing the full potential of the Agreement and building an inclusive business policy for North America that fosters broad-based and equitable growth, drives innovation, protects our shared environment, and helps people from all walks of life, “said the USTR.

The meeting’s agenda includes, above all, labor, energy and trade issues, in the latter case related in the regional as well as in the global sphere, given the conjuncture of the multilateral negotiations.

T-MEC will be one of the essential approaches for the recovery of the economy after the health and economic crisis generated by Covid-19, said Arturo Herrera, head of the Ministry of Finance and Public Credit (SHCP).  “What we have to do now is to start dealing with what will be the post-Covid takeoff and for sure one of the central approaches will be how to leverage the Free Trade Commission,” he said during his participation in a talk held by Americas Society. He explained that the Mexican government trusts that the T-MEC would be one of “the most important arms of growth” in the years following its signing, in November 2019;  However, in December in the city of Wuhan, China, the first case of Covid-19 was reported and, with it, the pandemic was detonated.In this sense, he said that the trade agreement was in a kind of impasse, so  that now various actions have to be taken, such as approaching companies and understanding what they require and need, in addition to betting more strongly on the modernization of the infrastructure associated with foreign trade.  He added that for the above, the role of the private sector is necessary for some of the projects, and thus complement public resources with private resources.