MEXICO CITY, Aug. 9 (Xinhua) -- The renegotiation of the North American Free Trade Agreement (NAFTA) could see a "window of opportunity" to resolve some of the thorny issues, the president of the Mexican Confederation of Industrial Chambers has said.
Francisco Cervantes spoke with Xinhua before departing for Washington to take part in the ongoing trade negotiations between Mexico, Canada and the United States.
"Today more than ever, we see an important window of opportunity, a very significant possibility that (pending issues) will be resolved," said Cervantes, who serves as an industry adviser to the Mexican negotiating team.
The renegotiation of the regional free trade deal started in August 2017 at the request of U.S. President Donald Trump, who claims the original agreement harms U.S. industries and jobs.
Trump has often threatened to withdraw from the three-way pact unless U.S.-proposed changes to the existing terms are accepted.
However, Cervantes is optimistic about reaching a consensus.
"It benefits the United States to continue being a major ally of Mexico, as a neighbor and as a regional economy, which combined makes us the most powerful in the world," he said.
"We are very positive about closing the deal," Cervantes added.
Some of the revisions requested by Washington to the original 1994 version of the deal include lowering the amount of foreign-made parts allowed in vehicles manufactured in North America, a sunset clause that would allow the deal to be reviewed every five years, and effectively capping fruit and vegetable exports to the United States.
