T-MEC and ‘nearshoring’ can increase exports to the US: Bancomext
The general director of Nafin-Bancomext, Luis Antonio Ramírez, pointed out that they have identified several opportunities that Mexico can take advantage of through the T-MEC and nearshoring (relocation of companies) to increase exports to the United States and in which Mexico City can be a relevant player.
Ramírez explained that Nafin-Bancomext has conducted an analysis and found 240 products in which Mexico can expand its exports to the neighboring country and its leading trading partner, replacing the Asian market.
During his presentation at the Mexico City Investment Fair, the director of Nafin-Bancomext highlighted that the capital governed by Claudia Sheinbaum could become a technological research center for industries and thus be the lever of these opportunities.
Of these 240 products that the development bank has identified, 11 are related to the chemical-pharmaceutical industry, equivalent to 70,000 million imports from the United States, and Mexico only has a 2% share.
“We are talking that there is a potential growth of 98%”, said the general director of Bancomext-Nafin; in that sense, in Mexico City, there are five companies that can join the regional production chain.
Another subsector, he added, is transportation equipment with 32 products in which Mexico has the possibility of increasing its shipments to the United States, these represent 100,000 million dollars of US imports, and our country has a 35% share.
He added that computer and electronic equipment also have ample potential with 19 products.
Luis Antonio Ramírez pointed out that this is just a sample of the investment and production opportunities with the T-MEC and nearshoring.
The major issues for the further development of the pharmaceutical market will be discussed at the Mexican Pharmaceutical Forum that will be organized by the Global Pharmaceutical Leaders’ Club on the 29-30th November 2022 in Mexico City. Secure your delegate place ASAP! Registration is here: https://mexicanpharmaforum.com/registration/
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