The challenges of the industry front the USMCA
November 12, 2019
Given the challenges that are being live in the economy of Mexico, CAINTRA identifies the lack of ratification of Mexico, United States and Canada, as one of the factors that can influence reverse investment reduction and lack of certainty of the private initiative.
The relationship with the United States is vital for all parties, according to official figures of the US Department of Commerce, in July of this year, Mexico exported products to the US market for a worth price of 30.098 million dollars, a year-on-year increase 6.7%, according to data from the United States Census Bureau, this dynamism positioned our country over China and Canada, where the first one is affected by the trade war that it has with the United States, and the second has remained unchanged. Mexico follows consolidating in the manufacturing industry, enriching supply chains and increasing competitiveness worldwide.
In the absence of ratification of the treaty, and having this impact on the economy regional, state and national, it is a priority for CAINTRA that the United States-Mexico-Canada Agreement (by its acronyms in spanish T-MEC “Tratado entre México, Estados Unidos y Canadá), be formalized, so that investment projects that are paused can be unlocked until the entry into force of the new commercial agreement is specified. Compared to NAFTA “North American Free Trade Agreement” (by its acronyms in spanish TLCAN “Tratado de Libre Comercio de América del Norte”), now called USMCA includes updates to intellectual property, services, the manufacturing, agricultural trade, among some others, in addition to considering the issues relevant to the current situation, among which are the aspects of the struggle anti-corruption, digital commerce, the environment and incentives to small and medium enterprises (SME).
The main challenge is to reach a treaty that improves the conditions of doing business with the United States and Canada, successfully moving between political moments and economic that currently exist internationally. The Chamber will maintain the collaboration with the authority to generate programs that motivate productivity, the economic growth and improve certainty for investment and job creation, at the same time, it will be attentive to the official approval of the Mexico Treaty, United Sates and Canada.
CAINTRA call for efforts to continue working to strengthen the economy, looking for a better quality of life for everyone.
CAINTRA NUEVO LEÓN