A U.S. trade delegation led by Secretary of Commerce Penny Pritzker officially began a five-day trade mission to Mexico February 3, starting the trip in Mexico City. Pritzker is joined by representatives from 17 U.S. companies looking to expand partnerships and develop effective strategies for accessing and doing business in the Mexican market.
The focus of the trade mission is to promote U.S. exports to Mexico by helping export-ready U.S. companies launch or increase their business in a number of key industry sectors, according to a February 3 Commerce Department blog post. These sectors include advanced manufacturing, information and communications technology, and health information technology and medical devices. The companies joining the commerce secretary address the demand of these growing industries in Mexico.
“The 17 companies who have joined me on this important mission represent the best of American business. These outstanding and innovative companies understand that selling American products overseas is a crucial component to growing and creating jobs,” Pritzker said, according to the blog post. “I am delighted we can help these companies expand their presence in Mexico through this business development mission.”
The U.S.-Mexico bilateral relationship is among the United States’ closest and most extensive in the world and one of the reasons Pritzker selected Mexico as the destination for her first trade mission, the Commerce Department said. Mexico is the United States’ third-largest trading partner, it said, and approximately $1.3 billion in merchandise trade and 1 million people cross the 3,000-kilometer shared border daily.
In addition, deeply integrated supply chains in North America and an established free-trade agreement make it easy for Mexico and the United States to do business with each other, the department said.
“The Department of Commerce recognizes that there is incredible potential for both countries to deepen their economic relationship and for U.S. and Mexican companies to do business together,” the blog post said. “With common values and shared aspirations for prosperity, it is a crucial relationship for both nations, and with Canada’s involvement, it can help make the North American platform the most competitive in the world.”
During the trade mission, Pritzker will meet with Secretary of Finance Luis Videgaray, Secretary of Economy Ildefonso Guajardo Vilarreal, Secretary of Communications and Transportation Gerardo Ruis Esparza, Minister of Health Mercedes Juan Lopez, state and city government officials, and CEOs of Mexican and U.S. companies, as well as U.S. Ambassador to Mexico Tony Wayne.
The mission will also visit Monterrey.