Latin American Business Chronicle, 1/2/2009
As Americans and Mexicans celebrated the start of a new year yesterday, they had reason to celebrate another milestone as well: The North American Free Trade Agreement (NAFTA) turned 15.
Despite the slowdown in both the U.S. and Mexican economies, trade between the two nations was expected to set a new record last year. In the first half of 2008, U.S.-Mexico trade grew by 9.6 percent to $183.7 billion. That follows a record $347 billion in trade in 2007. Compare that to the $81.5 billion in total two-way trade in 1993, the last year before NAFTA was implemented.