Commercial interest between Mexico and China has increased in recent years thanks to the fact that our country offers first-rate infrastructure in parks and industrial buildings, specialized labor and cost competitiveness, while the Chinese market offers many opportunities to our companies. Therefore, specialists estimate that by 2035 exports to that nation will increase.
Due to the enormous demand that the Chinese market has “it is planned that by 2035 exports to the Asian nation can grow between 10 and 20 percent,” he said. Abraham Fernandez, director of the Bajío division of the company Newmark.
In an interview with MILLENNIUM, Fernández commented that during the first quarter of the year, the output of products from Mexico toward China grew 15 billion dollars, which represented an increase of 9.8 percent compared to the previous year.
Furthermore, in an environment in which the United States has a trade dispute with China, Mexico It offers enormous potential to attract investment from abroad, which is also supported by 12 international trade agreements.
According to the Ministry of Economy, a Mexico 11,864 million dollars entered for foreign direct investment (IED) from January to March of this year, which represented an interannual increase of 14.8 percent; of this amount, China invested about 80 million dollars in that period.
Added to this is that, strengthened by the new FTA Come in Mexico, USA Y Canada (T-MEC), the country offers a series of unique advantages to attract investment from other latitudes.
Among the strategic lines of interest for China in Mexico are the energy sectors, where they won one of the tenders to explore and exploit oil in the Gulf of Mexico; there is also interest in the development of the region of the Isthmus of Tehuantepec and in the Mayan Train.
“It is estimated that the industries with the greatest potential to attract Chinese investment to Mexico They are manufacturing, textile, automotive and technology industries and in areas such as the Bajío, the Northeast, and the Southeast of the country ”, he specified Abraham Fernandez.
According to the director of NewmarkAnother attractive factor in the country is the development of infrastructure for parks and industrial buildings, where China It has found qualified, specialized labor at a lower cost than what its local market offers.
Hector Romo, leading tax partner in the Bajío region of the consultancy KPMG, agreed on this last point by stating that Mexico It has qualified personnel, especially in sectors such as manufacturing and the automotive and aerospace industries.
“Chinese labor has become more expensive in recent years; Furthermore, the transport and logistics times are less competitive compared to the Mexican import market ”, he pointed out. Hector Romo.
Both also agreed that the natural market for Mexico in terms of exports in the next five years will continue to be MEsince it has 70 percent of the transfer of consumption.
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