With 11 international treaties with 46 countries, Mexico boasts commercial agreements with nearly every region in the world, making it one of the most globalised economies. This global connectedness has helped Mexican industry evolve immensely. Prior to the 1990s, the Mexican economy enjoyed relatively low dependence on non-oil exports to the US and the rest of the world. This changed significantly in 1994 with the signing of the North American Free Trade Agreement ( NAFTA), which has led to greater…
Industry & Mining
From The Report: Mexico 2015
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Since the early years of the maquiladora concept, a cross-border manufacturing government programme, the Mexican manufacturing sector has evolved significantly. Today, the well-established and globalised Mexican industrial sector is a much more specialised and nuanced market, with a stronger regulatory framework. In 2014 the sector saw its GDP increase by 4.22%, according to the National Council of the Maquiladora Industry, with clothing, paper, transport equipment, and machinery and equipment among the best performing sub-sectors. Meanwhile, contributing around 5% to the country’s total GDP in 2013, Mexico’s mining sector is among the top 10 world producers for at least 16 minerals. Though challenges remain, including stagnant local consumption, with a stronger regulatory framework the country is set to strengthen its position as a global player in manufacturing clusters, ranging from the well-established automotive industry to the rapidly developing aerospace manufacturing sector.
This chapter includes interviews with Manuel Herrera Vega, President, Concamin.