Mexico City, Jan. 23 — Mexican President Enrique Peña Nieto announced that his government will negotiate new trade pacts with signatory nations of the Trans-Pacific Partnership, the ambitious treaty that the United States withdrew from on Monday.

“Given the difficulty of making the TPP a reality, Mexico will immediately initiate talks that will create new bilateral trade agreements with the treaty’s participating countries,” said Peña Nieto in a statement from the Los Pinos presidential residence.

Accompanied by a good portion of his cabinet, as well as business and union representatives, the Mexican leader also backed improving relations with the Asia-Pacific region, given that five of Mexico’s 10 main trade partners are located there.

“It’s our priority to consolidate ourselves as a relevant partner (in the Pacific region) to intensify trade, investment and tourism flows,” he said.

U.S. President Donald Trump on Monday fulfilled one of his campaign promises by signing an executive order to withdraw Washington from the TPP, which had been a key piece of predecessor Barack Obama’s trade legacy.

The treaty, negotiation of which took more than six years, was signed in early 2016 by Australia, Brunei, Canada, Chile, the United States, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, and is in the process of being ratified by the parliaments of the member nations so that it may enter into effect.

According to Mexican government figures, the trade bloc – including the participation of the United States – would represent 37 percent of the world GDP and 20 percent of global trade. – EFE