"By building on agreements and concrete results we will remain not just allies but good neighbors [with US]," Nieto said in a speech at the National Polytechnic Institute (IPN).
He spoke a day after the US administration softened its stance on the North American Free Trade Agreement (NAFTA) it planned to scrap. On Thursday, it notified the US Congress of its intent to renegotiate the pact with Mexico and Canada.
"Through dialogue and negotiations Mexico will seek an opportunity to update this important trilateral instrument and I am convinced its modernization will do us good," Nieto said.
The 1994 NAFTA accord aimed at facilitating trade between the three signatories. US President Donald Trump had repeatedly criticized the deal for taking away jobs and stressed the need to renegotiate it, threatening that the United States could withdraw from the pact.