In the context of the eventual approval of the Electricity Reform, and in the face of fireworks from the Mexican government and more recently, from the high levels of the US government, what is there in the commercial and business relationship between the two countries? The increasingly notorious and harsh media dialogue between governments seems aimed at cooling relations and a potential trade conflict.
The president’s accusations Andres Manuel Lopez Obrador of a supposed lobbying of the United States government in the Mexican legislative power, on the one hand.
And, on the other hand, the strong statements of the United States trade representative, katherine tai who warned about the risk of investments by companies from that country for 10 billion dollars, are marking a new chapter in trade relations.
That is what happens at the declarative level. But what is happening in reality?
Has the flow of investments stopped? Are the parties paralyzed and the points of interest are in impasse? It seems not. Investments have not stopped; the flow is maintained although perhaps at a slower rate than its potential.
And the dialogue between the representatives of US businessmen in Mexico and the national authorities has not been interrupted.
At least that is the impression left in his conversation by the president of the American Chamber of Commerce, Vladimiro de la Mora.
There are 1,200 companies that make up this guild. Together, they produce 21% of GDP; 20% of private investment in Mexico, and more than 8 million formal, direct and indirect jobs. Historically, around 50% of American Foreign Direct Investment (FDI) has come from the United States.
Except in the triennium of the years 2018, 2019 and 2020 in which American FDI contracted to 34.4%; 37.5%; and 39.1%, by the end of 2021, recovered and even exceeded the figure registered in 2017 of 45.6%, to stand at 46.6% at the end of last year.
There are other figures that show that there is a clear distance between what is said and heard, in official speeches or declarations, and what happens.
In 2021, the total bilateral trade between Mexico and the US was 661 thousand 164 million dollars, that is, an exchange of 1.25 million dollars per minute in goods and services.
At the end of the year, Mexico was placed as the second trading partner of the US, with 14.4% of its total global trade.
In February 2022, Mexico regained its place as the main trading partner of the US with a total exchange of 113.2 billion dollars against 97 billion dollars in the same month last year, according to data from the US Census Bureau. In the last 28 years, from NAFTA today T-MEC, total bilateral trade increased by 711%. 82% of Mexico’s exports are destined for the United States. More than 5 million jobs in the United States depend on trade with Mexico.
Those are the figures. But the most important thing is that the dialogue has been maintained. De la Mora highlights all the work that has been maintained on the AmCham agenda with the Mexican government.
From the dialogue with the US trade representative, Katherine Tai, and the direct participation of the US ambassador in AmCham, Ken Salazar and rapprochement with the Mexican authorities, in particular with the Secretary of the Treasury, Rogelio Ramirez de la O and the Secretary of Economy, Tatiana Clouthier.
The president of AmCham is not distracted by strident discursiveness and prefers to see the opportunities that are presenting themselves with the geopolitical and economic recomposition from the Covid-19 pandemic, the semiconductor shortage crisis, the trade war between the US and China and Russia’s invasion of Ukraine that have led to the disruption of production chains.
Besides of Nearshoring highlights the AllieShoring through which investments can be attracted to North America. De la Mora and his team have met with the Mexican authorities to explore the potential for investments in the different regions of the country, such as the transisthmian corridor, but also to unblock bottlenecks and make suggestions on issues such as the application of the charter- bearing or fast pass, among many other issues.
Journalist
Rich and Powerful
He has worked continuously in newspapers, magazines, radio, television and the Internet, in the last 31 years he has specialized in business, finance and economics. He is one of the three hosts of the program Alebrijes, Águila o Sol, a program specialized in economic issues that is broadcast on Foro TV.