Mexico-U.S. Trade Opportunities Abound
American businesses should take advantage of emerging trade opportunities between the United States and Mexico as the Latin American country’s governmental policies are creating a friendlier environment for commerce.
That was the message conveyed at a Global Trade Forum held in September at Johns Hopkins University Montgomery County Campus. Entitled “Mexico-U.S. Innovative Business Opportunities,” the forum provided a chance for the approximately 80 attendees to hear from experts on trade with Mexico.
The forum was the third in the Global Trade Forum series, which launched last year. The first seminar focused on banking and the second on trade with Brazil. Opportunities in Africa will be the subject of a fourth global trade forum, to be held Nov. 18.
The forums are sponsored by Johns Hopkins University, the U.S. Department of Commerce, the Maryland Department of Business and Economic Development, the Montgomery County Department of Economic Development, the U.S. Small Business Administration – Washington Metropolitan Area District Office and the Montgomery County Chamber of Commerce.
The Mexico panel was moderated by Roberto Trujillo, president and chief executive of TruBios, a company located on Johns Hopkins Montgomery County Campus.
Mexico is the third-largest goods trading partner with the United States and the second-largest economy in Latin America, said Gigi Godwin, president and chief executive of the Montgomery County Chamber. That robust economy makes Mexico an ideal partner for U.S. trade, Godwin said.
The keynote speaker was Mexican Ambassador Eduardo Medina-Mora, who talked about the benefits of the North American Free Trade Agreement (NAFTA) on commerce between the United States and Mexico. Mexico’s Gross Domestic Product is increasing. Mexico, Medina-Mora said, is the second-largest market for U.S. exports, and millions of U.S. jobs depend on trade between the two countries.
Improved labor laws, telecommunications regulations, education reform, tax reform and energy reform are paving the way for a better Mexican economy, Medina-Mora said.
“We can now see the future with tremendous optimism,” Medina-Mora said. “Mexico is a fantastic opportunity.”
Federico Alberto Arguelles Tello, chief commissioner for the analytical control and coverage extension of COFEPRIS, talked about the pharmaceutical policies in Mexico. COFEPRIS is the Federal Commission for the Protection Against Sanitary Risk. Mexico pharmaceutical policy, he said, is committed to working to introduce more generic drugs into the market.
Colleen Fisher, Mexico desk officer with the U.S. Department of Commerce, spoke about the dynamic market in Mexico, including the country’s strong Gross Domestic Product, strong manufacturing base and thriving democracy. Health IT and biotech companies in particular, she said, should look at trade with Mexico.
Catherine Robinson of biotech giant Amgen agreed Mexico is an important market, which Amgen entered in 2009. The biopharmaceutical market is growing there, she said, and companies should take advantage of opportunities.
Other speakers included Gerardo Patino, commercial counselor of ProMexico, and Trevor Gunn, managing director of international relations at Medtronic.
At the conclusion of the forum, attendees met one-on-one with groups such as U.S. Small Business Administration, ProMexico, the Export-Import Bank of the United States, the Maryland Department of Business and Economic Development, and others.
CATEGORY: In The Community