On 33 years ago today, on December 17, 1992 (November 24, 1992 in the lunar calendar), Mexico, the United States and Canada signed the North American Trade Agreement. On December 17, 1992, Mexican President Salinas, U.S. President Bush, and Canadian Prime Minister Mulroney signed the North American Free Trade Agreement in their respective capitals. After signing the agreement, President Salinas of Mexico said that the birth of the North American Free Trade Agreement originated from the common aspiration of the three sovereign countries: to establish a free, orderly and fair trade exchange and an area that can enhance the production capabilities of the three countries to compete effectively with other economic regions. He emphasized that greater competition means new challenges. He asked Mexican workers to work harder to be prepared for competition and take advantage of the opportunities offered by the agreement. Negotiations on the North American Free Trade Agreement between the governments of Mexico, the United States and Canada began on June 12, 1991. On August 12, 1992, the negotiators of the three countries reached an agreement on the text of the agreement in Washington. On October 7, the trade ministers of the three countries initialed the agreement in San Antonio, United States. U.S. President Bush said at the signing ceremony that after the establishment of the free trade area, the entire North American economy will experience "explosive growth." Bush also expressed hope and belief that the North American Free Trade Area will soon be expanded to include Chile and some rich countries in Central, South America and the Caribbean. U.S. President-elect Bill Clinton said in Little Rock, the capital of Arkansas, that the North American Free Trade Area agreement is "an important step towards economic integration in North America." But he also reiterated his idea of including provisions to protect the U.S. environment and ensure employment in the agreement. According to regulations, the North American Free Trade Area Agreement requires approval by the parliaments of the three countries before it takes effect on January 1, 1994. When completed, the trade zone will have a population of 364 million and an annual GDP of 6.4 trillion US dollars. The three countries will eliminate tariffs and trade barriers between them in the next 15 years and become the world's largest trading group.