Sound macroeconomic and market-oriented policies coupled with a new wave of structural reforms continue to position Mexico as one of the world’s leading destinations for foreign direct investment (FDI). In 2015 alone, Mexico received $32 billion in FDI, an increase of 19% compared to 2014, and the $14 billion received in the first half of 2016 reaffirm this trend.
U.S.-Mexico High Level Economic Dialogue in Ongoing Collaboration
On July 29th, high-level Mexican and U.S. government officials reviewed the progress made under the U.S.-Mexico High Level Economic Dialogue (HLED) and determined next steps in the efforts to make North America the most competitive economic region in the world.
In just a few years, the Mexican automotive industry has risen as a global powerhouse, attracting over $23 billion in foreign direct investment since 2010. Mexico’s highly competitive automotive industry is spreading rapidly to include high value-added segments such as heavy vehicles, turning Mexico into the world’s 5th largest producer of heavy trucks.
Customs Infrastructure Modernization Will Accelerate in 2015
On January 6, 2015, Mexico’s Ministry of Finance announced actions aimed at accelerating the implementation of the 2013-2018 Customs Modernization and Infrastructure Development Plan. Mexico and the United States have a trade dynamic of over $534 billion annually, of which 80% is transported by land across the border, making it a priority to rapidly advance trade facilitation programs and to improve customs infrastructure.
Mexico’s competitiveness agenda, championed by President Enrique Peña Nieto and widely supported by the Mexican Congress, includes specific actions oriented toward promoting larger inflows of foreign investment by opening strategic economic sectors to private participation. By virtue of this agenda, the energy, telecommunications and financial services sectors have lifted previous limits to foreign investment, unlocking 29% of Mexico’s $1.2 trillion GDP, to new business opportunities.
Mexico Makes Strides in Protecting Intellectual Property Rights
Mexico has emerged as a leader in promoting effective software asset management (SAM) in the public sector and protecting intellectual property rights. On February 25th, 2015, the Mexican Institute of Industrial Property (IMPI in Spanish), Mexico’s intellectual property government agency, became the first patent office in the world to be awarded the Verafirm Certification by the BSA | The Software Alliance, a global leading association of software companies.
On January 6th, 2015, the second meeting of the US-Mexico High-Level Economic Dialogue (HLED) took place in Washington, DC. Created by mandates of President Obama and President Peña Nieto in May 2013, HLED aims to advance bilateral economic priorities, foster growth, create jobs, and improve competitiveness.
National Infrastructure Program, Unleashing Mexico’s Potential
On April 29, 2014, Mexico published the National Infrastructure Program 2014-2018 (NIP) which provides the basis for ensuring the implementation of the main infrastructure projects that will contribute to the economic and social development of the country.
Mexico and the U.S. are Moving toward a More Efficient Border
On October 17th, customs authorities from the U.S. Customs and Border Protection (CBP) and Mexico’s Tax Administration Service (SAT in Spanish) signed an agreement to mutually recognize two customs security programs that are currently in place in both countries. The agreement allows stronger collaboration between both programs by creating a common structure aimed at streamlining and securing cargo trade across the border.
Brewing the Coffee Economy in Mexico
One of the greatest assets of North America is the natural richness of its geography. This favors the production of a wide diversity of agricultural goods within the region. Mexico is no exception to this and its production of coffee is one prominent example. Its blessed geography and climatic conditions have allowed the country to become one of the biggest producers and exporters of coffee beans in the world.
Mexico Simplifies Export Procedures in the Health Sector
Government procedures and services available to foreign investors and businesses will now become more accessible and simpler according with Mexico’s most recent trade developments. The Six Comprehensive Strategies outlined on May 30, 2014, by President Peña Nieto included a new “single window” for the health sector in order to promote exports by eliminating up to 80% of the regulatory burden on exporters.
Mexico Advances on Intellectual Property Protection
Mexico is advancing on the approval and implementation of an ambitious reform agenda, making countries around the world look at Mexico for inspiration to modernize their economies. Mexico´s forward-looking approach to intellectual property protection and, in particular, the leadership shown on the use of legal software in Mexico, are all examples of what is being accomplished.
Put North America First
North America is home to almost five hundred million people living in three vibrant democracies. If the three North American countries deepen their integration and cooperation, they have the potential to again shape world affairs for generations to come, a new Council on Foreign Relations- sponsored report “North America: Time for a New Focus” concluded. The Independent Task Force report asserts that elevating and prioritizing the U.S.-Canada-Mexico relationship offers the best opportunity for strengthening the United States and its place in the world.