Trade tensions between the US and China motivate greater investment in Mexico

The Jiangsu Chamber of Commerce of China in Mexico reported that as a result of the commercial tensions between its country and the United States, from this year and until 2025, various Chinese companies from different sectors will accelerate their investments in Mexico.

México mira hacia China

Through a statement, the agency detailed that so far, about 70,000 businessmen from the Asian country have taken their investments from the United States, to locate in states such as Coahuila, Puebla, and Yucatán

Likewise, he pointed out that the sectors in which the greatest investment opportunity is expected are manufacturing, textiles, automotive and basic technology. In addition, he stressed that with Trade Agreement between Mexico and China, the latter generates a commercial exchange of more than 19 billion dollars annually thanks to the Commercial Coalition between the business sectors of both nations.

The Secretary of Economy (SE), Graciela Márquez Colín, affirmed that Mexico is evaluating the possibility of signing a Free Trade Agreement with China, but given the difficulties due to the coronavirus pandemic, it should wait to start bilateral talks.

The Economy Minister assured that China is on the current administration’s treaty agenda, but also acknowledged that it has complexities.

The tourism sector will also benefit from the commercial exchange, according to Zhengjie Zhao, vice president of the Chamber of Commerce and Guillermo Pérez, president of Corsa Corp. (a coalition body between businessmen from Mexico and China), the “Asian wave in Mexico ”Will generate thousands of jobs in the coming years.

Both executives consider that in addition to promoting tourism, the 2030 Agenda established by the United Nations Organization on environmental protection and gender parity is fulfilled. 

Zhao stressed that China is Mexico’s second trading partner, only after the US, and pointed out that the investment engine will focus on strengthening participation in the field of biosafety and hydrocarbons.

Source: excelsior.com.mx. inmobiliare.com

Mexico Daily Post