Mexico and Canada agree to ensure coordination with the US regarding the review of the USMCA • Economy and finance • Forbes México

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The Ministry of Economy reported that in view of the review of the USMCA, Mexico and Canada will seek to complement their industries and ensure effective coordination with the United States, in order to expand the common market and create greater resilience in the face of trade conflicts and challenges in global logistics. .

On a working tour of Canada, the Undersecretary of Foreign Trade, Luis Rosendo Gutiérrez, met with that country’s negotiating team for the review of the USMCA.

The meeting with Aaron Fowler, Deputy Deputy Minister of Trade Policy and Negotiations of Canada, served to establish a collaboration agenda for the joint development of supply chains for the North American region.

Likewise, the official met with his counterpart, the Undersecretary of International Trade, Rob Stewart, with the aim of establishing a path of constructive dialogue to work together in the review process.

The undersecretary also participated in a round table with Canadian companies and the Council of the Americas of Canada with the objective of informing investors in that nation – from the banking, energy, mining, manufacturing sectors – about the reform agenda, the strategy investment and economic policies of Mexico.

Read: ECLAC urges Mexico to take advantage of other agreements in view of the USMCA review

“During his tour, he shared the mechanisms that currently exist in Mexico and that the government of President Claudia Sheinbaum is reinforcing to provide legal certainty to the investments and operations of companies in Mexico,” according to the agency.

After the meetings, the agency stated that there was a consensus between both delegations that Mexico “is experiencing a unique moment” due to nearshoring, given the volume of companies that are returning from Asia to the region, and the positive effects of attracting new players. to join value chains.

He added that the situation represents a great opportunity for micro, small and medium-sized Mexican companies to insert themselves into these chains and participate in foreign trade, promoting technology transfers, specialization of the workforce and increased salaries.

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