Mexico plans to extend the current trade agreement with the European Union amid the uncertainty of the North American Free Trade Agreement (NAFTA), Mexico’s Economy Secretary Ildefonso Guajardo said.

On January 23, the US president signed an executive order withdrawing the United States from Trans-Pacific Partnership (TPP) free trade treaty, and promised to renegotiate the North American Free Trade Agreement (NAFTA).

On Tuesday, Guajardo announced that Mexico had launched free trade negotiations with Australia, Brunei, Malaysia, New Zealand, Singapore and Vietnam following the United States withdrawal from the Trans-Pacific Partnership (TPP) free trade treaty.

“We are preparing for the third round of talks with the European Union to expand our agreement. I had a telephone conversation with European Commissioner for Trade Cecilia Malmstrom and we plan to accelerate our negotiations,” Guajardo said at a press conference.