Mexico, Canada and the United States agree to strengthen production chains

In a joint statement, they noted that the COVID-19 pandemic showed that global value chains lack expectations and standards for emergency action.

They pointed out that, in the context of great interdependence, it was enough for one link to be uncoordinated to paralyze the rest of its production chain.

At a global level, they said, these disruptions have had adverse effects not only on levels of economic activity and employment, but also on prices and supplies of essential products such as food, medicines and medical equipment.

Based on the premise that the health and safety of workers is above any economic factor, the governments of the three countries have in recent months drawn up analysis tables to agree on work protocols and adopt a unified definition of critical or essential productive sectors.

All this in order for the supply chains in the region to be better prepared and coordinated in the event of any eventuality.

They reported that a Trinational Subcommittee was set up this week to ensure the resilience of supply chains during emergencies of various kinds.

The Ministry of the Economy will lead the work in the Mexican government agencies in order to anticipate and respond in a coordinated manner, taking into account the three northern countries that make up one of the most interconnected trading regions in the world.

This integration will tend to intensify as the phenomenon of company relocation and regionalization of production chains in North America consolidates.

The joint statement concluded that the industrial resettlement is mainly due to the need of the productive sectors to reduce risks, and that the decision taken by standardizing standards and establishing protocols will enhance the competitiveness of the region, making it more attractive for investment.

ymr/lma