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US Commerce Secretary Touts Mexico Opportunities

September 23, 2013

Recently installed United States Secretary of Commerce Penny Pritzker said trade opportunities with Mexico will expand as economic and security conditions improve in America's neighbor to the south.

Washington, D.C. - Recently installed US Secretary of Commerce Penny Pritzker is headed to Mexico from November 18th - 22nd for her first official trade mission.

"Trade opportunities with our southern neighbor are expanding as President Pena Nieto is instituting reforms which are improving the economic and security conditions in Mexico," the Secretary stated.

This business development mission is to further elevate and strengthen the dynamic bilateral commercial and economic relationship with Mexico and to highlight new US business opportunities there. The trip will focus on key industries such as health and communications technology, as well as advanced manufacturing.

American companies are looking to bring their production closer to home, either back to the US or to nearby countries such as Mexico. Lower energy costs and an industrious workforce is making manufacturing in North America more attractive for many firms. Rising wages overseas is also a factor.

"Our aspirations are for increased cooperation between US firms and Mexican companies," Secretary Pritzker said, "perhaps with innovation occurring on the American side and production happening south of the border. Already many goods are manufactured partly in US and partly in Mexico."

“Increasing exports is an essential component for spurring growth and creating jobs in America,” said Pritzker. "Circumstances are favorable to create even more opportunities for the two countries to work together, both diplomatically and economically."

Mexico is the United States’ second-largest export market and third-largest trading partner, just behind China. Twenty-two states in America depend on Mexico as the first or second destination for exports, and more than $1.25 billion in goods and services are traded between the two countries every day, supporting millions of jobs on both sides of the border. Together with Canada, Mexico and the United States comprise one of the most competitive and successful regional economic platforms in the world.

Secretary Pritzker will make stops in Mexico City and Monterrey.