NAFTA deal lifts Mexico; stocks jump 3.7% on day side agreements negotiated

The negotiation of side agreements to the North American Free Trade Agreement (NAFTA) helped boost Mexican stocks 3.7% on Aug 13, 1993, and some investors forecasted more activity later in 1993, especially if NAFTA is passed by the US Congress. The Mexican market has gained favor with Latin American investors through its political and economic reforms that have resulted in reduced inflation, stabilized currency, and an improved monetary system. ARCO Investment Management Co, Gulfstream Global Investors, and Latin American Securities are among firms investing in the Mexican market.