Canada, the United States and Mexico has a huge opportunity to expand and develop and become the leader in energy. Privatization is part of their energy program and so there is now a wonderful opportunity under NAFTA to create a whole area dealing with our North American energy plan. Mexico has reformed their policies towards energy. “Another area that was left vacant is oil and gas and energy development. Nixon listed other reasons NAFTA needs to be modernized. The digital world, the electronic world, all the things now that go on across borders, electronically, was not addressed, such as protection of intellectual property rights.” There is a whole world of technology that did not exist 23 years ago when NAFTA was put in place. “However, the passage of time has created changes in society that the agreement never anticipated. We believe it was done well,” Nixon said. We were involved in the original agreement and had a lot to do with working on both sides of the border here in our part of the world to fashion that agreement. “We have been involved in the NAFTA world from the beginning. Nixon, along with Gerry Schwebel, head of IBC’s international banking group, and IBC Bank Senior Vice President Eddie Aldrete, was recently in Washington, D.C., for meetings about NAFTA. His administration has since softened its position. The document was major campaign issue during last year’s presidential election, with Donald Trump saying it was the worst international agreement the United States had ever signed.
Renegotiation of NAFTA has been triggered by the United States and is likely to start in August. “From the people that I have been meeting with on this issue over the past few months, the key points are: do no harm, modernize the document, and get it done quickly so we can get about our business of growing the economy.” It has worked well, for the past 23-plus years,” Nixon told the Rio Grande Guardian. “The trilateral agreement is a fundamental economic tool that we must have in place and must work well. IBC Bank has submitted testimony about NAFTA to U.S.
Nixon, who is also chairman of the board of IBC, said modernization of the trilateral accord between the United States, Canada and Mexico is crucial.
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Nixon, CEO of IBC Bank, has staked out his company’s position on the North American Free Trade Agreement.
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