USMCA will bring industrial investment to Mazatlán

In 2019, 79.86% of all Sinaloa exports went to the United States and Canada.

Mazatlán, Sinaloa.- The new trade agreement between Mexico, the United States, and Canada (USMCA) generates a panorama of opportunities for the country, said David González Torrentera.

The Secretary of Economic Development, Tourism, and Fisheries stated that the port of Mazatlan and the state of Sinaloa are working hard to attract industrial investment.

David González Torrentera (File photo)

“This treaty will benefit Mazatlán since one of the specific points of the USMCA is that 75% of the components of a vehicle have to be manufactured within the region and that gives us a very interesting area of ​​opportunity”, he said.

He added that within the norms established in the USMCA, it is proposed that between 40 and 45% of the components should be manufactured by operators who earn more than $ 16 USD an hour, which means greater prosperity for the Mazatlan families. And it will certainly be of great benefit for the whole country.

Trade between our region represents 1.17 trillion dollars, which means 15.9% of world trade between regions. In North America, it represents 25.9 trillion dollars of gross domestic product that generates 18.3 of the world’s GDP.

He stressed that this region is highly competitive, since export trade between Mexico and the United States represents 80%, which translates into 361 billion US dollars.

According to the number of the State Secretary for the Economy for Sinaloa, bilateral trade with the United States and Canada has always been very important, since in 2019, 79.86% of all exports went to these countries. The United States continued as the main destination for Sinaloa’s exports with 77.19%, while Canada remained with 2.67%.

In 2018, the United States remained the main destination for Sinaloa exports with 74.95%, while Canada had only 2.89%. On that year, 77.84% of all State exports went to these two countries.

Source: OEM

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