Mexico welcomes NAFTA renegotiation - foreign minister

WASHINGTON, May 18 (Reuters) - Mexico welcomes the opportunity to renegotiate the North American Free Trade Agreement with the United States and Canada, Mexican foreign minister Luis Videgaray said in Washington on Thursday.

Videgaray spoke after the Trump administration formally launched its effort to renegotiate NAFTA with Canada and Mexico to try to win better terms for U.S. workers and manufacturers.

"The government of Mexico welcomes this development," Videgaray said at a news conference with Secretary of State Rex Tillerson and other Mexican and U.S. officials at the State Department. "We understand that this is a 25-year-old agreement when it was negotiated, the world has changed, we've learned a lot and we can make it better." (Reporting by Yeganeh Torbati; Editing by Bernard Orr)