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Home Economy

Comce supports the Mexican government with a view to building a more competitive North America

The organization highlighted the progress made in several industries due to regional economic integration.

T21 Media by T21 Media
28 November, 2024
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The Mexican Business Council for Foreign Trade, Investment and Technology (Comce) highlighted the progress made in various industries in North America due to the economic integration promoted by the Treaty between Mexico, the United States and Canada (T-MEC) and joined the vision of the federal government to build “a strong, competitive region prepared to lead the future,” as announced by Marcelo Ebrard , head of the Ministry of Economy .

In this regard, he recalled that during the morning conference, Ebrard emphasized the importance of promoting regional stability , shared prosperity and the optimization of regional supply chains as key strategies to face global challenges.

Since the transition from the North American Free Trade Agreement (NAFTA) to the USMCA, North America, a region that represents 30% of the world’s Gross Domestic Product , has made progress in sectors such as the automotive industry, which has established itself as a pillar of trilateral collaboration, Comce highlighted in a statement.

Juan Pablo Cervantes , president of the International Section for North America of Comce, announced that “with an exchange that exceeds 3.1 million dollars (mdd) per minute between the three nations , North America stands out as an example of economic integration .”

“In a global context marked by the reconfiguration of supply chains and geopolitical tensions, economic regionalization offers a unique platform to strengthen this integration,” Cervantes stressed.

Looking ahead to the USMCA review in 2026, there are priority areas such as rules of origin, labor provisions, and opportunities in emerging sectors such as semiconductors , electromobility, and medical devices .

“These adjustments will be essential to maintain the region’s competitiveness compared to others, such as Europe and Asia,” said Juan Pablo Cervantes, who said that small and medium-sized enterprises (SMEs) occupy a central place in this strategy, since, despite being the main generators of employment in North America, they face challenges in fully integrating into global value chains.

In light of this, he pointed out that COMCE is promoting its training and approach to new opportunities, promoting its role as drivers of the regional economy.

The organization recognized the formation of the Regional Economic Development and Relocation Advisory Council (CADERR) , under the leadership of Altagracia Gómez , who is also part of the National Board of Directors of Comce.

“This effort is a significant step towards building a comprehensive vision of economic development in Mexico. We are confident that this council will contribute to the effective implementation of relocation strategies and the strengthening of industrial corridors and development hubs, generating substantial benefits for the region and the country,” he said.

These statements come after threats from the president-elect of the United States, Donald Trump , who said that one of his first executive orders will be to sign all the necessary documents to charge Mexico and Canada  a 25 percent tariff .

Also, Canada’s opposition leader, conservative  Pierre Poilievre , said he is willing to negotiate a trade agreement with the United States that excludes Mexico.

According to information from the Bank of Mexico (Banxico), of the total value of Mexican exports, 3% correspond to Canada , compared to 83.2% to the United States .

Comment and follow us on X: @GrupoT21

Tags: COMCEDUTYECONOMIC INTEGRATIONMarcelo EbrardTRADE INTEGRATIONUSMCA

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