Mexico hosts 7th round of NAFTA talks

The 7th round of the North American Free Trade Agreement (NAFTA) negotiations began in Mexico City on Sunday, with hopes of finalizing more sections.

Negotiators from Canada, the United States and Mexico held a closed door meeting at a hotel in the city's upscale Polanco neighborhood.

Mexico said the first day of talks will see 27 different working groups hold discussions on agriculture, good regulatory practices and rules of origin, among others.

Mexico's Economy Minister and head negotiator Ildefonso Guajardo said this round is to conclude on March 5 and could see up to seven sections or chapters finalized.

"It is a matter of making the necessary decisions, of which there are not too many, to close topics that have not been updated in 22 years," Guajardo told reporters on Friday.

Guajardo's remarks echoed those of Moises Kalach, coordinator of the strategic advisory board to international negotiations at Mexico's Business Coordinating Council (CCE).

Kalach said in mid-February that this round could see six to 10 chapters finalized, including those on telecommunications, e-commerce and energy.

According to the agenda, also on the table are labor issues, pharmaceutical transparency, financial services and intellectual property rights.

Among the issues, the three NAFTA partners have been unable to agree on is rules of origin in the automotive sector, which stipulates what percentage of a vehicle should be regionally manufactured.

The United States has proposed raising it to a minimum of 85 percent within the NAFTA region, and at least 50 percent from the United States. However, Mexico and Canada want the rate to remain at 62.5 percent.

(ASIA PACIFIC DAILY)