Mexico approves the USMCA

Published: 2019-06-24

MEXICO CITY – The Senate of the Republic in extraordinary session ratified the USMCA agreement, with 114 votes in favor, 4 against and 3 abstentions.

The ratification of the United States–Mexico–Canada Agreement (USMCA) by the Mexican Senate gives certainty to investors, stated the Secretariat of Economy.

The USMCA incorporates chapters on e-commerce, combating corruption, good regulatory practices, competitiveness and cooperation for SME development.

In addition, the new treaty modernizes NAFTA items such as rules of origin, textiles and customs administration, which will help increase the competitiveness of the North American economy.

“Mexico takes advantage with clear signals that our economy is open. We are confident that our partners will soon do the same for a strong North America, with clear rules, attractive for investment,” stated Jesus Seade, Mexico’s chief negotiator for USMCA.

Source: El Economista