Ambassador Kirk joined Mexican Secretary of the Economy Bruno Ferrari and Canadian Minster of International Trade Peter Van Loan today in Mexico City for the meeting of the North America Free Trade Agreement (NAFTA) Free Trade Commission.
The three ministers discussed ways to continue positive trade relations between the three countries, as well as strengthen economic growth and stability across the continent. They agreed upon a plan to address the mindset of many small business owners that exporting is too hard or too risky. The trio also announced changes in rules of origin that will stimulate trade in environmental goods. Read more in the official statement here.
As the United States’ top two trading partners, this regional trade relationship is vital to increasing American exports, growing American businesses and creating new jobs for American workers. From the shipping company in Hidalgo, Texas, which works to transport Made in America products to Mexico, to the pasta maker in Nashville, Tennessee, selling gourmet products to consumers in Canada, NAFTA continues giving American businesses an opportunity to expand and create well-paying jobs here at home.
NAFTA entered into force in 1994. Since then trade in goods among the NAFTA countries has more than tripled from $297 billion to $900 billion. Each day the NAFTA countries conduct nearly $2.5 billion in trilateral goods trade. U.S. exports sold to Canada and Mexico in 2009 totaled almost $400 billion, making the two countries the top two purchasers of U.S. exports in 2009.
