28 08 2017

First Round Of NAFTA Renegotiation Talks Concludes

Canada, Mexico, and the US have released a trilateral statement on the first round of NAFTA renegotiation talks, which they said covered more than two dozen different topics.

Talks began on August 16 and lasted for five days. In a statement, the Canadian Foreign Affairs Minister, Mexican Secretary of the Economy, and US Trade Representative said: "The scope and volume of proposals during the first round of the negotiation reflects a commitment from all three countries to an ambitious outcome and reaffirms the importance of updating the rules governing the world's largest free trade area."

According to the statement, "Detailed conceptual presentations were made by the United States, Mexico, and Canada across the scope of the agreement, and negotiating groups began work to advance text and agreed to provide additional text, comments, or alternate proposals during the next two weeks."

Officials will continue domestic consultations in their respective countries, and will aim to advance the negotiating text throughout the rest of August. A second round of talks will be held in Mexico from September 1-5.

The statement added: "Negotiations will continue at this rapid pace, moving to Canada in late September and returning to the United States in October, with additional rounds being planned for the remainder of the year."