On the first anniversary of the entry into force of the trade agreement with the United States and Canada, the T-MEC, Mexico positioned itself as one of the most attractive nations for foreign companies to settle. In this period, investments for 10 billion dollars have arrived, consolidating the pact as a fundamental piece for economic recovery and reaffirming its operation, the Ministry of Economy considered. In an interview with MILENIO the Undersecretary of Foreign Trade of the agency, Luz María de la Mora, explained that due to the pandemic, trade with the United States fell 12 percent in 2020, while with Canada it fell 19 percent; however, the first months of 2021 saw significant growth as a result of the economic reactivation.

According to the United States Census Bureau, the total trade in goods with Mexico from January to April 2021 was for 208 thousand 642 million dollars, for an increase of 19 percent compared to 2020. In addition, Mexico established itself as the main trading partner of the US. In the case of Canada, trade amounted to $ 10.513 billion during the first four months of the year.

It may interest you: Mexico's potential for the construction of Data Centers

What are Mexico's successes in the treaty?

First, to have been able to renew this productive integration that we have had since 1994, and that in 2020 we had to update the disciplines of the agreement; this reflects the nature of the relationship, of this productive integration, and the importance that the three countries attach to it by continuing to promote regional, productive and efficient integration.

How many investment projects has the T-MEC brought in?

In the Ministry of Economy we have registered more than 100 investment announcements that have been made by companies from the United States, China, Japan, European Union countries such as Spain, Germany, France and Italy, which show a very clear interest in continuing in Mexico. The T-MEC is a tool that has contributed to offering that certainty and that long-term positive outlook so that investors continue to see Mexico as an attractive place for their investments.

We recommend: Advance Real Estate acquires 5 properties in Ciudad Juárez

What sectors are they from?

With regard to sectors, manufacturing is always in the first place, and within this we have the automotive, auto parts, electrical, electronic sectors, but also related to medical devices and equipment, machinery and a diversity of areas that also respond to this rethinking of global supply chains.

What is the amount of these projects?

We do have a record of these investment announcements and they can easily be around 10 billion dollars, which will already be representing a little more than 30 percent of all the foreign direct investment that Mexico received in 2020. These are only announcements that they will gradually materialize, but I can say that very frequently and continuously we continue to receive this type of information from companies.

The state of Chihuahua has maintained investment during this first half of the year, which is why its supply of industrial spaces has decreased. Enter Solili and know the options that exist in Ciudad Juárez and Chihuahua for rent.

Read the complete article