MEXICO CITY, Feb. 5 (Xinhua) -- The Mexican business community on Monday praised the creation of an anti-corruption chapter in the North American Free Trade Agreement (NAFTA), calling it an "unprecedented" addition to this kind of international free trade treaty.
The chapter was completed during the sixth round of NAFTA renegotiation talks, which concluded in Montreal, Canada, on Jan. 29.
"We succeeded in outlining the crimes of bribery and illegal enrichment, as well as forcing all three governments to establish efficient measures for their prevention and punishment," Mexico's Business Coordination Council (CCE) said in a statement, adding that the next step would be to ensure Mexico takes practical steps to fight crime.
According to the World Bank, Mexico loses nine percent of its GDP annually due to corruption. "For every 100 pesos we produce in the economy, nine are lost in the irregular transactions of corruption," the CCE said.
CCE members also called on Mexico to implement the national anti-corruption system, which would improve public expenditure control. The mechanism has been stagnant since 2015.
"It is necessary to move from intentions and good speeches to actions and commitments," the CCE said. "If we do not do it, we will have less capacity to attract investments, bring about new business and create better jobs."
According to a poll by Mexican statistics bureau INEGI, corruption is among the three problems affecting Mexico most.
