Market reforms in Mexico recently have ended the monopoly of state-owned oil company Pemex. Two private Mexican companies have since opened gas stations, and BP followed with a first gasoline station earlier this year.
The EU and Mexico have had a free trade agreement for 17 years, but have been negotiating a new one for the past 18 months. Following the most recent round of talks, hopes are high that a deal can be concluded next week.
Mexican negotiators have vowed to "present proposals and counterpoints" in a bid to stop a sunset clause on the trillion-dollar trade deal. The US president has threatened to "terminate" NAFTA even before talks finish.
Talks on the NAFTA trade agreement between the US, Mexico and Canada have stalled over the US insistence a rewritten deal reduces the US trade deficits. Washington has vowed to withdraw unless its demands are met.
US President Trump has warned that tough talks lie ahead on the future of NAFTA, indicating that the US could withdraw. Trudeau has said he is optimistic about the deal's fate but admitted there was room for improvement.
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