TMEC produces 55% of the country's GDP: CCE

Francisco Cervantes Díaz, President of the Business Coordinating Council (CCE), emphasized that the Treaty between Mexico, the United States and Canada (TMEC) produces 55% of the GDP of the Mexican economy.

“Directly and indirectly, TMEC affects up to 55% of our GDP,” the businessman commented during the inauguration of the TMEC Committee of the National Governors Conference (Conago).

The businessman said that the installation of this group is very encouraging for Mexico's development.

“This is demonstrated by TMEC’s development numbers and its importance to our growth,” said the organisation’s leader.

Between January and May 2023, the USMCA achieved a trade volume of $328.11 billion, 6% more than in the same period in 2022.

“With this, Mexico becomes the number one trading partner of the United States worldwide,” Cervantes Díaz said.

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In addition to the growing volume of trade, we are also currently experiencing a period of great opportunities to attract investment, with the announcement of the new global phenomenon of relocation thanks to relocation to nearby regions, through which more than $40 billion will be received this year. Head of CCE.

He pointed out that if Mexico takes optimal advantage of this phenomenon, the country will be able to grow at a rate twice what it is currently achieving.

“For these fundamental reasons, the business sector is celebrating the installation of TMEC in Konago,” he added.

In this regard, the business leader expressed that local governments in this group will share their good practices to facilitate trade and investment operations, as well as regulatory and promotional strategies for this.

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“In addition, with this Conago Agenda, it will be possible to give TMEC a regional focus that continues to enhance the strengths of the North and Central, the connectivity to the Pacific and the new potential of the Central and South.”

He added that the business sector will accompany Conago in proposing a framework to define the themes, priorities and work of the USMCA Committee.

“Mexican business is ready to share our expertise on these ideas and contribute to the dialogue to continue making the most of the USMCA, so that, with increased trade and increased investment, we can promote the development of all regions of Mexico.” Cervantes Diaz stated.

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Aileen Morales

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