The future of the North American Free Trade Agreement (NAFTA) depends on the flexibility and creativity of the negotiating parties, Mexico's Economy Minister Ildefonso Guajardo said on Tuesday.
"If we are creative enough and flexible enough, we will probably be successful" in updating the agreement, Guajardo told reporters at a press conference.
He declined to say whether a new version of the 1994 trade deal would be ready by early May, as a private-sector representative had indicated.
On April 24, a prominent Mexican business leader Moises Kalach, who is close to the talks, said the NAFTA partners would be able to reach an "agreement in principle" by early May.
"I can't dismiss the possibility, but I can't say it's certain either," said Guajardo, who heads Mexico's negotiating team.
Mexico, Canada and the United States have been renegotiating NAFTA since August 2017, at the behest of U.S. President Donald Trump, who feels the free-trade pact has been "bad" for the American economy.
The talks have been regularly extended and Guajardo pointed out that the parties had yet to reach a consensus on several issues, such as rules of origin for the automotive sector and a sunset clause that would subject the deal to review every five years.
The three countries have held seven rounds of talks and closed six of some 30 chapters.
