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Mexico's Slim, Zambrano Call on U.S. to Allow More Immigration

May 13 (Bloomberg) -- Carlos Slim, Latin America's richest businessman, and Cemex SA Chairman Lorenzo Zambrano called on the U.S. to pass an immigration accord to allow freer movement of workers, in line with increased trade in North America.

The U.S., Mexico and Canada have failed to take steps to improve on the 1994 North American Free Trade Agreement, allowing Europe, Asia and other regions to become more competitive, Slim and Zambrano said last night, during a panel discussion at a conference in Monterrey, Mexico.

``Nafta was incomplete because it only globalized trade and capital and left pending the globalization of labor,'' Slim said at the business and government conference focusing on North American economic development.

The initial surge in exports and investment under Nafta has leveled off and the three countries now need to find ways to increase integration to boost economic growth, said Slim, who controls mobile telephone, long-distance telephone, banking, retail, mining, cigarette, construction materials, food, copper cable and auto parts companies.

The U.S. should acknowledge that cheap labor from Mexico has given it a competitive advantage over Europe, where population growth is lower, said Zambrano, whose company is the world's third-largest cement producer.

``If there's no recognition that an immigration agreement is needed, if there's not enough political leadership to achieve it, then we can't think about a integrated North America or a competitive North America,'' Zambrano said.


To contact the reporter on this story:
Thomas Black in Monterrey at tblack@bloomberg.net

Last Updated: May 13, 2005 10:48 EDT