Three years after coming into force D-MEC, It has been shown that Trade agreements are an important tool to support economic competitiveness Between Mexico, Canada and the United States, experts agree.
During these three years of D-MEC implementation, we have observed that trade and investment flows have not stagnated and have continued to grow even in double digits.
James Salazar, Deputy Director of Economic Analysis at CIBanco highlighted.
According to a recent analysis published by the Trade Coordination Council (CCE), this trade agreement has benefited the Mexican economy with the influx of foreign direct investment (FDI); Especially 42.5% from USA and 4.8% from Canada..
Statistics show that About 3 million dollars worth of trade goods are exchanged between member countries every minuteA very favorable aspect in economic matters.
“T-MEC has promoted trade and investment among regional countries “Unprecedented,” the statement said.
in the middle Major Products Mexico Exports Under the T-MEC Framework They find each other:
- Computers
- televisions
- Screens
- Vehicles
- Vehicles for transportation of goods
- Automotive parts and accessories
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Controversial issues
Although the benefits of the agreement are not questioned, the trade exchange is not exempt from disagreements and disputes.
The labor issue is one of the pending issues of the D-MEC agreement because In Mexico, working conditions should be improved and a salary adjustment policy should be promotedThere have been accusations even from the United States,” said Cesaire Chiatchoua, an expert at the National Polytechnic Institute (IPN).
To date, the United States has prosecuted 11 cases under the USMCA mechanism. For violations of labor rights in certain industries And they certainly won’t be the only ones.
Other controversial issues faced by T-MEC’s business partners Mexican policy restricts the use of imported GM corn, prompting the US to file a formal complaint; And Mexico’s energy policies have failed to comply with commitments to open its energy market to outside competitors.
In general, the balance of trade agreements between Mexico, the United States, and Canada is very favorable, first with NAFTA and now with T-MEC.
Salazar reiterated.
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approachingA historic opportunity
CCE recalled He nearby Or the transfer of institutions “a historic opportunity” For the economies of Mexico, the United States and Canada, the T-MEC represents a valuable legal framework to create certainty in business matters.
“He nearby This is a great opportunity for Mexico because it will increase confidence among the members of the agreement By promoting a greater economic spillover and job creationChiatsuya added.
However, CCE considers it “It is very important to prioritize compliance with T-MEC’s obligations Be in a position to take full advantage of the benefits of relocation”.
Now on to the topic nearbyT-MEC becomes a bridge to help establish companies in Mexico
CIBanco’s Deputy Director of Economic Analysis concluded.
