Mexican business groups urge preservation of USMCA amid new U.S. political landscape, Digi Mart USA News (Mexico): Mexico’s private sector is seeking to preserve economic integration across North America amid a new political scenario in the United States and the upcoming review of the Agreement between Mexico, the United States and Canada (USMCA, known in Mexico as T-MEC). The business organizations believe institutional stability, legal certainty and bilateral dialogue will be essential to sustaining investment and regional competitiveness.
The Business Coordinating Council (CCE), the Confederation of National Chambers of Commerce, Services and Tourism (Concanaco Servytur) and the National Council of the Maquiladora and Export Manufacturing Industry (Index) agreed on the importance of strengthening the relationship with the United States. Their statements come in the wake of changes stemming from the midterm elections, whose outcome opens a new stage in the political and commercial relationship between the two countries ahead of the review of the North American trade agreement.
For the CCE, regional economic integration must be maintained beyond electoral cycles. The council said it will continue working with the U.S.
government and elected representatives to strengthen the bilateral relationship and promote better conditions for Mexico under the USMCA. It also emphasized that citizen participation, strong institutions, democratic checks and balances and legal certainty are fundamental to building confidence and driving investment.
Index said the U.S. electoral process represents an opportunity to consolidate regional economic integration, boost productive investment and provide certainty to companies operating on both sides of the border.
The organization said it is engaging with the U.S. Congress through its Washington office, while its local associations work with border states to attract investment, plant installations and job creation.
Humberto Martínez Cantú, president of Index Nacional, noted that since the North American Free Trade Agreement (NAFTA), now the USMCA, took effect, trade in the region has multiplied fivefold. He also said 84% of Mexican companies consider the treaty has had a positive or very positive impact on their activities and on economic development.
Index views the relationship with the United States as strategic, since it is Mexico’s main trading partner and the most important destination for national exports, and it considers ongoing dialogue necessary to strengthen supply chains and create growth opportunities for both countries.
Concanaco Servytur, led by Octavio de la Torre, argued that Mexico should use the new U.S. political scenario to expand opportunities for family businesses, commercial establishments and tertiary-sector companies.
The organization said the commercial integration of North America should benefit a greater number of Mexican businesses rather than being concentrated only in large transnational companies. The confederation seeks greater participation by family businesses and micro, small and medium-sized enterprises (MSMEs) in regional value chains so they can take advantage of opportunities in the North American market.
In its statement, Concanaco also stressed the importance of maintaining a constructive relationship with the various U.S. political actors and strengthening conditions of certainty for business activity.
