VIEW FROM THE TOP
ENSURING MEXICO’S INTERNATIONAL COMPETITIVENESS ILDEFONSO GUAJARDO Minister of Economy
Q: How is the Ministry of Economy ensuring Mexico remains
A: In the last two decades, Mexico’s global integration
a competitive destination for FDI?
has been a keystone for economic growth. We certainly
A: Mexico is among the most open economies to
want more Mexican products to be exported but at the
international trade and investment. The set of structural
same time we want to consolidate our domestic market.
reforms carried out by President Peña Nieto’s administration
Hecho en México aims to foster national production and
have paved the way to attract domestic and foreign
competitiveness, as well as being a symbol of confidence
investments in strategic sectors. The Ministry of Economy
and high quality for consumers. The Ministry of Economy,
has implemented several measures to ease doing
through ProMéxico, is promoting the program beyond
business in Mexico. For example, it has worked to reduce
Mexico’s borders. At the end of April 2017, I visited Hannover,
regulations and facilitate investment in sectors where FDI
Germany, to attend a ceremony where Mexico was formally
was previously restricted, such as telecommunications and
announced as the partner country for the Hannover Messe
energy; it has increased accessibility and transparency at
2018. Being the most important manufacturing event
the Public Registry of Commerce and Property and we have
worldwide, the fair will be a major window to promote the
promoted the use of electronic platforms to ease processes
Hecho en México program and portray Mexico’s innovative
related to FDI registry.
products, processes and industries.
Q: What are the government’s priorities for establishing
Q: What initiatives is the Ministry of Economy favoring to
trade agreements with Asian and Latin American countries?
support the entrepreneurial ecosystem?
A: The Asia-Pacific region is a priority for Mexico. However,
A: An example of the Ministry of Economy’s efforts to support
since TPP’s entry into force is uncertain, Mexico is exploring
Micro Small and Medium Enterprises (MSMEs) is the role of the
alternate paths. For instance, in March 2017 in Viña del Mar,
Federal Commission for Regulatory Improvement (COFEMER)
Chile, the Pacific Alliance established the “Associate State”
in reducing the regulatory burden and unnecessary
category, with the objective of negotiating trade agreements
bureaucratic procedures. One of the most meaningful
with countries in the Asia Pacific region. Australia, Canada,
measures undertaken is the 2x1 regulation scheme. Through
New Zealand and Singapore are the first 4 candidates to
this scheme, all public agencies wanting to implement a new
become Associate States of the Pacific Alliance. Within
regulation that implies costs for the population are obliged
the framework of APEC, leaders of the Pacific Alliance
to eliminate two existing regulations. Another example is
engaged in two discussions with Asian economies in which
ProMéxico’s involvement in promoting exports from Mexican
they explored common cooperation areas, namely SMEs
MSMEs. These companies are offered consultancy from trade
and trade facilitation.
experts who facilitate the completion of export requirements to foreign markets. Additionally, ProMéxico undertakes
Q: What strategies does the government plan to implement
promotional activities to increase the visibility of products
to help companies diversify their operations outside the US?
and services from MSMEs abroad. In terms of international
A: President Peña Nieto’s administration expects to diversify
trade, we have strived to include specific chapters on MSMEs
Mexico’s trade agenda with potential markets. We are
into our most recent FTAs, such as the Pacific Alliance and the
modernizing our 15-year-old trade agreements with both
TPP. We will do the same while updating NAFTA.
the EU and the European Free Trade Association countries. In Latin America, we are deepening existing agreements with Brazil, Argentina and the Pacific Alliance.
Ildefonso Guajardo is the Mexican Minister of Economy, member of the PRI party. He has worked in the Ministry of
Q: What strategies is the Ministry of Economy following
Tourism, Foreign Affairs and Trade, as well as congressman. He
to relaunch and position the Hecho en México program?
is the top negotiator for NAFTA’s renegotiation
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