Ministry of Economy Seeks to Increase Mexico's Attraction in Nearshoring

The Ministry of Economy seeks to further enhance Mexico's attractiveness in the context of nearshoring by highlighting the advantages the country has as part of the world's most important treaty, the USMCA.

Thus, the agency headed by Raquel Buenrostro Sánchez has launched a new section on its DataMéxico platform, focused on the United States-Mexico-Canada Agreement (USMCA), providing key statistical information for the strategic analysis of the three partner countries.

It mentioned that this new tool is being implemented in the context of the unparalleled moment that Mexico is experiencing due to nearshoring, or the relocation of production processes to geographical areas closer to end consumers, as well as due to the close commercial relationship with North America, as advantages for attracting investments and strengthening regional supply chains.

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The Ministry of Economy mentioned that the USMCA offers a legal and commercial framework that incentivizes the production and supply of goods within the region, which includes the elimination of trade barriers and the simplification of customs processes, thereby reducing costs and facilitating the exchange of goods and services.

Additionally, it emphasized that under the conditions of the USMCA, the competitiveness of regional trade with global markets is improved, ensuring fair conditions and promoting economic growth. The Treaty also promotes the creation and strengthening of regional value chains, encouraging supply within North America, which in turn generates employment and economic development in the three countries.

All of this provides a stable and secure framework, crucial for attracting and retaining investments and increasing trade, it highlighted in a statement. It explained that DataMéxico is a tool designed for the integration, visualization, and analysis of data, aimed at fostering innovation, inclusion, and diversification of the Mexican economy.

Hence, it emphasized that it now includes a section that will provide a commercial overview of the partners with whom Mexico forms one of the most important trade agreements in the world.