Mexico expects its economic relationship with the United States and Canada to remain strong despite ongoing political and trade uncertainty, according to Foreign Affairs Secretary Roberto Velasco.
Speaking at an international banking forum, Velasco said the depth of North American production and trade integration makes a significant breakdown of existing commercial ties difficult. He also noted that regional trade has continued to expand through previous periods of uncertainty.
Mexico, he said, will continue prioritizing its trade agreements while seeking to ensure that any changes to the regional framework cause as little disruption as possible to businesses and supply chains.
Velasco also pointed to opportunities in emerging technologies and deeper value-chain integration as areas where Mexico, the United States, and Canada could strengthen their competitive position relative to other regions.
On investment, he highlighted efforts to shorten permitting processes, expand transportation and logistics infrastructure, and increase the amount of value generated domestically in Mexico.
The future of the regional economic relationship will ultimately depend on trade decisions made by all three governments and the terms established through upcoming negotiations.
Source: Enfoque
