Mexican Leaders Want More Business Outside Of North America
A key member of the Mexican senate said she wants her country to engage in more commerce with countries other than the United States.
Sen. Gabriela Cuevas, the head of Mexico's Senate foreign relations committee and a member of the opposition National Action Party, said she and her colleagues want Mexico to continue a close trading relationship with the U.S.
But, Cuevas said, there’s room for growth elsewhere. The U.S. represents 80 percent of Mexico’s foreign trade, even though Mexico has trade agreements with 45 other countries.
“The U.S. is a great partner for Mexico, yes, and we are also a great partner to the U-S,” Cuevas said. “But we need to diversify our commerce, our exports and also our own industry.”
In the meantime, members of the Mexican Senate are re-evaluating existing trade policy with countries in Asia. For example, Cuevas said, they’d like to find a better balance in trade with China.
“We are having a huge problem with that trade balance because we also want the Mexican products to be in the Chinese stores,” Cuevas said.
While the Mexican president Enrique Pena Nieto has strongly advocated for joining the Trans-Pacific Partnership, it remains unclear whether the Senate will approve the measure.
Mexico is the leading trading partner for several U.S. states, including Arizona and Texas.
President-elect Donald Trump has promised to renegotiate or cancel the North American Free Trade Agreement. Meanwhile, Trump has promised to withdraw from the Trans-Pacific Partnership.