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MEXICO CITY, March 24 (Xinhua) -- Mexico's Foreign Minister, Luis Videgaray, said Friday that formal renegotiation of the North American Free Trade Agreement (NAFTA) would take place "halfway through the year" and that Mexico would take part "without fear."
Participating in a banking convention in Acapulco, Videgaray noted that Mexico's foreign policy was based on clear principles and that "the agenda cannot only be set by the other party. It is not just the United States that want to change things."
"In the actual negotiation, we have to have a lot of confidence in ourselves. We will enter into the negotiation without fear," he said, adding that Mexicans "should be ready" for changes.
Equally, he reiterated that the most important principle for the Mexican government is for negotiations to be complete.
"We are ready to discuss all topics. Nothing is agreed until everything is agreed. The relation with the United State is the broadest and most complex relation Mexico has in the world," said Videgaray.
The minister added that, beyond defending its sovereignty in commercial ties with Washington, Mexico would insists that remittances not be affected, including extra tariffs.
According to Videgaray, these remittances play an important economic role but also have a social dimension, as they are usually sent to low-income families who depend on them.
Videgaray also said that Mexico will seek a renegotiation which allows its competitiveness not to be based on cheap labor, as the agreement must benefit all sides, especially Mexican workers.
On the security front, the Mexican diplomat said a commitment would be sought from the U.S. to stem the flow of weapons and money entering Mexico illegally.
