Headlines this week about Mexican telecom tycoon Carlos Slim surpassing Bill Gates as the world’s richest man, has once again placed a media spotlight on Mexico’s current economic climate. There are many varied opinions about Mexico’s economic outlook for the coming year, but it is certain that Mexican cross-border trade is critical to the economic success of North America. While some border policies threaten to hinder economic progress by stifling cross-border trade and travel, in this news roundup, Border Trade Alliance (BTA) focuses on US - Mexico border potential and the promising contributions to the larger North American economy.
North and Latin America at juncture for free trade - Exec Digital
U.S., Canada and Latin America can form world trading bloc if they quickly improve their transportation infrastructures and simplify customs requirements, according to UPS. “I believe that Latin America, home to half-a-billion people south of the U.S.-Mexico border, has the potential to be the next hotbed of trade and economic growth,” UPS Chairman and CEO Mike Eskew told participants at the U.S. Commerce Department’s inaugural Americas Competitiveness Forum.
“But it is clear the Americas are at a crossroads,” Eskew continued. “Although we’re neighbors, our border and customs policies make it sometimes seem like we’re enemies. We have so many complicated customs and security requirements in place that it’s often easier to import goods from Europe or Asia … The choices are to adapt, or become irrelevant.” Read the full article…
Trade Mission to Mexico Broadens Broward County’s International Reach - County and Local Companies Reap Economic Benefits - Broward County Allinance
Broward County continued to fortify its position in the international business arena during its six day mission to Merida, Yucatan and Guadalajara, Jalisco, Mexico. The purpose of the state-wide Mexico trade mission, organized by the Broward County Office of Economic Development and led by Broward County Mayor Josephus Eggelletion, was twofold: to develop the relationship with the state of Jalisco and its economic development leaders that Broward has been building on for the past five years, and to explore new opportunities. “We have targeted Merida and Guadalajara, Mexico for trade and investment because we share much in common with these Mexican cities in terms of economic growth sectors. We have the advantage of cross-cultural relationships already established, and that is becoming increasingly important in international business” stated Norman Taylor, Director of the Broward County Office of Economic Development. Read the full article…
Officials to discuss plans to attract border investments - Arizona Rep.
Gov. Janet Napolitano is returning to Mexico next week for two days of talks with Mexican officials and business leaders to explore ways of making the Arizona-Sonora region more competitive in attracting investment. The meeting in Hermosillo, Sonora, will draw several dozen high-level business leaders from Arizona and Mexico in hopes of luring more businesses interested in cross-border trade to set up shop in the region. “If you are a U.S. company that wants to do business in Mexico, Arizona is the place to be because of the good relationship with Sonora.” Read the full article…
Border has the right mix for growth: Leaders say immigration, trade and birth rate are sparking the area’s boom - Houston Chronicle
It’s all about location, say leaders in Texas border communities where trade and immigration from Mexico have supercharged growth rates. From 2000 to July 2006 Brownsville and Laredo each grew by 21 percent, while McAllen followed with nearly 19 percent, according to U.S. Census Bureau population estimates released last week. They were among the 19 Texas cities ranked in the 100 fastest-growing U.S. cities with population of more than 100,000, according to the Census Bureau. “Location and cross-border trade is driving what’s happening from El Paso to Brownsville,” said Steve Ahlenius, president of the McAllen Chamber of Commerce. Read the full article…
S&P move puts zing in Mexico’s economy: Tax measure expectations prompt change in credit rating - Houston Chron
Standard & Poor’s ratings service has raised Mexico’s credit-rating outlook to positive from stable, fueling a surge in the country’s currency, stocks and government bonds. S&P, which rates Mexican foreign debt BBB, the second-lowest investment-grade rating, said the change in outlook was driven by the country’s efforts to reduce its foreign debt and by expectations Congress will approve legislation to bolster tax collections. S&P rates Mexico’s local debt A, the sixth-highest rating. Read the full article…
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