In the wake of the NAFTA re-negotiations, especially the ones going around energy to take place from Friday 18 until Sunday 20, oil and gas associations AMEXHI, API and CAPP stated their support towards market-oriented politics that eliminate barriers, bring economic growth and create job opportunities. This vision is shared by main outlets such as Bloomberg, and the Financial Post.

AMEXHI, API and CAPP

AMEXHI, API and CAPP. Photo taken from AMEXHI

The oil and gas associations of the three countries highlighted the advantages that NAFTA has brought during its 23 years of existence to their nations, by allowing for a free flow of oil, gas and their derivatives. Considering that the North American region may achieve self-energy-sufficiency by 2020, the associations pointed out the need of ensuring flow of liquid energetics among their respective nations.

The associations, who bring together diverse companies along the oil & gas value chain from each country, also stated how  having renegotiations on an already healthy and steady NAFTA, that has worked well for the countries and companies that participate in the market, might be dangerous for all its players and ultimately reduce investment and jeopardize millions of jobs.

 

Among the specifics that the three associations support and believe that are favorable elements for the involved countries are: fees decrease or elimination, liberalized market of oil, natural gas and derivative industrial products, market access, coexistence clauses, intellectual property norms, rules of origin, reimbursement rights and regulatory cooperation and coherence. To know more about each one of the aspects visit their statement of position.

AMEXHI, API and CAPP finished their position statement by reminding that the re-negotiations should remain as a trilateral effort that puts Mexico, the US and Canada in a position to successfully compete in the world markets, showing how the initial Trump’s NAFTA statements during his campaign are not shared by the companies and associations that face the reality of the markets.

Sources:

AMEXI Press Release

Statement of position from AMEXHI, API and CAPP

President-elect Trump and the Mexican Oil & Gas Industry (MOGR Blog)

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