In the process of relocating production chains, Mexico’s position in different industries such as the automotive industry stands out, and it has the possibility of becoming a global leader in the microprocessor sector, estimated Francisco Cervantes Díaz, president of the Business Coordinating Council (CCE).
“We are doing quite well in the microprocessor sector… we are entering with great power in chips, such as batteries, and they are transversal, not only for electromobility, and Mexico can be a leader in this,” Cervantes said during the 30th Congress of the Mexican Business Council for Foreign Trade, Investment and Technology (Comce).
He said that in the case of Mexico it is a privilege to be the main commercial partner of the United States, since with the 3,156 kilometers of border shared by four states there and five Mexican states, the relationship is so relevant that if it were a country it would be the third largest economy in the world.
With the reconfiguration of global supply chains, Cervantes explained that competitiveness and trade must be strengthened, and he gave the example of the automotive industry, in which Mexico is in sixth place with the largest ecosystem in the world.
“The auto parts industry and automobile brands continue to be strengthened, in heavy trucks we are number one and now that electromobility is coming we are also going for it to have the complete ecosystem,” the business leader added.
Going forward, he said that reflection will be very important regarding one of the fundamental factors to support foreign trade in the future: a digital and content industrial policy, as one of the challenges for Mexico in the rest of the decade.
“It is very positive that the analysis of the importance of powershoring characterized by the new trends that prioritize these cases and clean energies is incorporated into the reflections,” said Cervantes.
Strengthening chains
For his part, Sergio Contreras, executive president of Comce, acknowledged that Mexico has made progress globally, but that other areas must be strengthened, since the pillars that now build the future of international trade, according to the World Economic Forum, are innovation, sustainability, inclusion and resilience.
“In that sense, foreign trade and foreign investment are no longer just economic indicators, but drivers for innovation, social and environmental improvement. They are also an important platform for innovation, from logistics processes with drones and robotics in warehouses, to artificial intelligence and cybersecurity,” said Contreras, who is also president of the Board of Directors of Pirelli Mexico.
In addition, in the run-up to the T-MEC, he said that dialogue must begin with the counterparts “with the term that the three countries are a single North America, the most important economic block in the world.”
“Today, for two years now, we have been the main commercial partner of the United States, the first world power, and we have a very important degree of industrial integration,” said Contreras.
Consolidation
Valentín Diez Morodo, honorary president of the organization, urged that it work to strengthen ties and open new markets to consolidate the country as a benchmark in international trade.
“Let us continue building a more competitive Mexico and prepared for the challenges of tomorrow, because the future of foreign trade, foreign investment and innovation is not expected, it is worked on,” he said.
In this sense, Contreras stressed that Mexico is the twelfth economy in the world, the ninth exporting power, and the ninth country that attracts the most Foreign Direct Investment (FDI).
“Our foreign trade in 2023 registered exports of 593 billion dollars, which represents 74 percent of the GDP. Of this, about 80 percent is manufacturing, which makes our country a quality exporting power,” he said.
Source: elfinanciero
