MEXICO CITY, Aug. 30 (Xinhua) -- Mexico is braced for a potential end to the North American Free Trade Agreement (NAFTA), the Confederation of Industrial Chambers (Concamin) said on Wednesday.
However, the trade group added that initial negotiations to update the 1994 trade deal between Mexico, Canada and the United States appeared destined to "come to fruition."
Should Mexico decide to walk away from the talks, which began in August, it could rely on the support of the country's industrial sector, Concamin's president, Manuel Herrera, told reporters at a press conference.
"We would support any decision the Mexican government makes, because we have been, and are confident that we will be, consulted throughout the process," said Herrera.
Concamin is among numerous industry groups that are accompanying the talks in the capacity of consultants and advisers.
The first round took place in Washington on Aug. 16 to 20, and Mexico is to host the second round from Sept. 1 to 5.
U.S. President Donald Trump insisted on renegotiating the deal, saying it unfairly benefited Mexico by luring U.S. industry and jobs south of the border, where wages and operating expenses are much lower.
At a recent political rally, Trump told supporters he didn't think the talks would succeed.
"We know there is a chance that any of the three countries could walk away from the negotiation ... or even withdraw from the agreement. Mexico is ready for that scenario," said Herrera.
Since Trump announced during his election campaign that he wanted to revamp NAFTA, Mexico has said it needs to stop relying quite so much on its biggest trade partner, and is looking to diversify its export markets.
Still, Concamin's chief told Xinhua on Tuesday the NAFTA negotiating teams were coordinating well in the lead up to the second round, and he was optimistic the process could be concluded by the end of this year or start of the next.
