The Mexican Business Council for Foreign Trade, Investment, and Technology (COMCE) presented on Wednesday a document with 24 recommendations to boost foreign trade and foreign direct investment (FDI) for the period 2024-2030, addressed to Claudia Sheinbaum Pardo, Mexico’s president-elect.
Through the document “24 for 2024: Ideas and proposals for Mexicans to leverage Mexico’s strengths as a global leader,” Valentín Diez Morodo, national president of COMCE, emphasized that 2024 marks the beginning of a change in Mexico.
“Mexicans went out to vote, electing the first female president of our country, which opens a door to think and implement actions and projects that allow Mexico to continue developing favorably,” said the executive.
Likewise, he explained that the institution has established the document to strengthen Mexico as an investment destination and consolidate its leadership in international trade, while also standing out as a relevant actor in innovation and technology.
The first axis addressed in the document is foreign trade: data from the World Bank indicates that around 88% of the country’s GDP is generated through this sector, making it vital to generate strategies for strengthening Mexico’s trade relations.
Therefore, COMCE pointed out that the main pillar of this axis should be to enhance the relationship with North America through the United States-Mexico-Canada Agreement (USMCA), a fundamental agreement not only for the Mexican economy but also for joint regional development.
Similarly, to continue being one of the most open markets in the world, COMCE proposed resuming bilateral trade negotiations with Argentina, Brazil, South Korea, Ecuador, and the United Kingdom, among other relevant points.
The second axis of the document focuses on proposals to increase the attraction of FDI to the country; and to ensure that Mexico takes advantage of nearshoring in the best way, COMCE proposed guaranteeing access to sufficient, competitive, and clean energy for companies, in addition to developing a comprehensive strategy to attract investments, especially in this juncture.
This includes the creation of a federal-level investment intelligence area using tools such as Big Data analysis to attract projects that bring value, technological advancement, and sustainability to the country.
The third and final axis recognizes that it is essential for Mexico to continue advancing in the field of innovation and technology, so COMCE proposed that the private sector actively collaborate with the academic sector to formulate study programs, including upskilling and reskilling initiatives that accelerate the articulation and application of knowledge in the country’s productive system.
Additionally, it indicated that it is fundamental to promote the dual education model, allowing students to obtain practical training directly in the industry before graduating, as this will not only facilitate their incorporation into the productive environment but will also contribute to the development of talent for the specific needs of the labor market.
“The country has the opportunity to chart a path toward a greater leadership role on the global stage, so the recommendations we present today to the president-elect and her team can serve as a reference for our country to write the next chapter of its history with vision, coordination, and unity, forging a path toward a bright future,” concluded Valentín Diez Morodo.
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