CHIHUAHUA, Mexico, Oct. 15,
2024 /PRNewswire/ -- Mexico must identify strategic sectors crucial
for development and enhance infrastructure to capitalize on the
influx of foreign companies driven by the nearshoring trend
and the United
States-Mexico-Canada Agreement (USMCA), experts and
government officials said during EFE's economic forum,
"Competitiveness, economic development, and prosperity."
This forum, supported by Economic Development of the
State of Chihuahua (DESEC), took
place in Chihuahua (northern Mexico), there René Espinosa, president of the state chapter of
the National Council of the Maquiladora and Export Manufacturing
Industry (Index), noted that the USMCA opens the door to define key
sectors not only for Mexico but
for the entire North American region. "The focus of the
discussions to be held within the USMCA must be on developing
strategic value chains in the North American region. The agreement
has brought a geopolitical and economic advantage, maximizing the
potential in various sectors," he said.
Espinosa emphasized that,
despite the ongoing trade dispute between the US and China, the goal of the USMCA should not solely
be to replace supply chains from the Asian nation. Instead, he
argued, all value chains where the three countries can be globally
competitive should be evaluated.
Meanwhile, Ulises Fernández, secretary of Innovation and Business
Development for the state government of Chihuahua, remarked that
while nearshoring is not a new phenomenon, a new wave of
relocations is gaining momentum.
For this reason, he suggested that governments need to assess
how to strengthen the productive infrastructure of various
industrial sectors to enhance them and become prime destinations
for new foreign investment. "We must ensure that we have the
necessary talent development, the infrastructure, to support the
growth and development of industry, and above all, create
conditions not only to encourage investment but also to ensure that
the local ecosystem participates — not merely as a provider of
talent, but as an integrated entrepreneurial ecosystem involved in
more complex processes," he said. Finally, Tony Lin, head of
Taiwan's Industrial Technology
Research Institute (ITRI), stated that Mexico has a significant opportunity to
capitalize on nearshoring due to the USMCA. "Many companies,
including Taiwanese ones, need to make their investments. They need
to operate in Mexico because, of
course, trade in Canada and the US
is too costly, so their only option is Mexico," he said.
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