The North American Free Trade agreement would be beneficial to both Mexico and the United States, according to a Securities Industry Association.
In a letter to its members, the SIA said the treaty -- between Mexico, the United States, and Canada -- would create jobs, expand foreign investment opportunities, increase exports, and enhance capital markets in Mexico.
In the letter Marc E. Lackritz, president of the SIA, urges SIA members to contact federal lawmakers. Lackritz said in the letter that congressional approval is "critical."
The treaty would remove barriers to U.S. financial services in Mexico and reduce the cost of borrowing for Mexican and U.S. companies. Lackritz says in the letter.
"As the Mexican market grows, so will employment in U.S. financial firms," he said. "NAFTA will create additional jobs in back office support, research, trading, new products, and other related services."
