09/11/2017 Natural Gas Intel
The North American Free Trade Agreement (NAFTA) renegotiations are an opportunity to update the 1994 treaty so that it reflects changes in Mexico’s oil and natural gas sector and deepened ties to Canada and U.S. energy markets, according to analysts.
“North American energy markets have changed, and there are the new reforms in Mexico,” BDO Mexico’s Rita Mireya Valdivia Hernandez, a partner in the tax practice, told NGI. “We need to adapt or modify NAFTA so that it is aligned with what North America is today.”
Talks to hammer out the details of a new NAFTA began in mid-August with the first of seven negotiating rounds scheduled through December. Delegates from the United States, Mexico and Canada met again in early September, while the third round is scheduled for Sept. 23-27.