A new NAFTA: AmCham's participation in the Veracruz Business Summit.

From October 23 to 25, Veracruz hosted the Business Summit entitled "Mexico: Energy for Change," which united business leaders, economists, intelectuals and diplomats alike. AMCHAM was an active participant: CEO Larry Rubin took part in the debate "From NAFTA to NAFTA Plus."

The debate awoke notable interest during the summit. Among its participants were Jeffrey Davidow, exambassador from the U.S. to Mexico; Carlos Elizondo, Mexico's ambassador to the Organization for Cooperation and Economic Development (OCDE); and JoAnne Butler, CEO of Trans Alta de Mexico. The table was moderated by Alberto Bello, editor of the magazine Expansion.

If all of the invitees agreed that, in general terms, the free trade agreement has had positive effects, they also signaled that to fully take advantage of it we must face certain problems. Rubin maintained that since 1994 foreign investment in Mexico has grown by US$172 billion, and that he has seen both economic and employment growth. But he also noted that "the benefits would be double with the structural reforms that continue without approval in the Legislative power."

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Davidow, current president of the Institute of the Americas, noted that the agenda between the U.S. and Mexico has become complicated due to the fact that each country gives its own problems priority: The Mexican government desires a migration accord, while the U.S. wants combat against drug trafficking.

The orators' conclusion was that NAFTA as we know it must evolve towards a new period in which regional security and prosperity take center stage.

Ricardo Forzan is key account manager at AMERICAN CHAMBER/MEXICO.