May 27, 2014
Mexico reported its third trade surplus in a row in April, the longest streak in almost two years, as manufacturing exports surged, signaling the economy is recovering from a poor start to the year.
The surplus totaled $510 million last month, the national statistics agency said on its website today, more than estimated by any of the nine economists surveyed by Bloomberg, whose median projection was for a $433 million deficit. Foreign sales of manufactured goods, which accounted for 83 percent of exports last month, increased 7.1 percent from a year earlier, the most since September. Automotive exports rose 12 percent.
November 25, 2013
The San Diego Union Tribune, 11/25/2013
The Mexico Business Center, an arm of the San Diego Regional Chamber of Commerce, is on a mission to promote trade between Mexico and San Diego by raising the region’s business profile and strengthening its competitiveness globally while working on improving relationships between Mexico and the United States.
The MBC was established in 2003. Affairs between the two nations have always been a priority for the chamber, and it wanted to advocate specifically on issues relating to cross-border trade and creating an efficient border.
November 25, 2013
The New York Times, 11/24/2013
Despite challenges that may sometimes seem daunting, the relationship between Mexico and the United States has shown remarkable resilience and has been by and large mutually beneficial. Nafta is largely the catalyst to the strength of this relationship.
Nafta was conceived as a way to increase trade and investment flows by setting a set of common rules to govern trade relations. Trade flows among the three countries have grown well above total output, investment flows have also increased significantly, and the vast majority of trade and investment relations among the three partners occur without disputes.
November 5, 2013
International Affairs Review, 11/05/2013
Energy reform would positively affect Mexico’s economy and upstream oil production capacity, strengthen U.S. energy security, and provide greater opportunities for energy development and trade in North America.
Mexican oil production has been steadily decreasing since 2004, mostly due to aging oil fields, years of underinvestment, and diminishing returns for the nation’s largest oil field, Cantarell. The U.S. Energy Information Administration (EIA) estimates Mexican oil production will continue to decline over the next decade, assuming no dramatic changes in policy or technology. President Enrique Peña Nieto of the Institutional Revolutionary Party (PRI) introduced an energy reform proposal in August 2013 aimed at attracting greater investment from foreign companies to help boost oil production and build a stronger economy. His proposal includes constitutional amendments that would allow PEMEX to undergo profit-sharing contracts with private companies without affording them concessions. The Mexican oil industry would look similar to those of Brazil and Norway, which have state-owned companies that welcome foreign capital to invest in exploring and developing their fields. Experts suggest the administration has the necessary votes to pass legislation for constitutional change, but Peña Nieto is facing considerable opposition from a public that is skeptical of privatization and his greater reform agenda.
October 29, 2013
The Latin American Herald Tribune, 10/29/2013
U.S. Secretary of Commerce Penny Pritzker, Canadian Minister of International Trade Ed Fast and Mexican Secretary of Economy Ildefonso Guajardo issue a joint statement at the North American Competitiveness and Innovation Conference in San Diego on strengthening the three countries’ trade and economic relationship.
Read the statement here.
October 4, 2013
The fight over Mexican tuna, and whether it is truly fished using dolphin safe practices, rages on. Mexico recently won a two decade long fight to get its tuna labeled dolphin safe. The WTO this month ruled in its favor. But the U.S. still refuses to allow Mexican tuna with a dolphin safe label on store shelves. Mexico says it’s had enough and is preparing to retaliate with trade sanctions on U.S. imports. Ensenada, Baja California, was once the thriving heart of the Mexican tuna industry.
August 27, 2013
Asia could become twice as important to Mexico as an export market over the next five years as the country strengthens trade ties with the fast-growing economies of the region, Mexican Economy Minister Ildefonso Guajardo said on Monday.
Latin America’s biggest exporter is working to diversify its trade to reduce its dependence on the U.S. market, which takes in more than three quarters of Mexico’s exports. For years a peripheral market for Mexico, Asia has been growing in importance, and Mexican President Enrique Peña Nieto has been at pains to bolster relations with China in particular since he took office at the start of December.