Mexico continues to establish itself as a powerhouse in international trade, thanks to its robust network of treaties and agreements that promote its global economic integration. Currently, Mexico has 14 Free Trade Agreements with 50 countries and 30 Agreements for the Promotion and Reciprocal Protection of Investments with 31 countries or administrative regions. These agreements not only diversify Mexican foreign trade but also position the country as an attractive destination for foreign investment.
One of the pillars of Mexico’s commercial success is its close relationship with the United States, consolidated through the United States-Mexico-Canada Agreement (USMCA). In 2023, Mexico recorded trade operations with the United States worth 570 billion dollars, thus strengthening its leadership in Latin America. Mexican exports to the U.S. have shown notable growth in key sectors such as agri-food, automotive, and electronics.
Several trends are anticipated to shape Mexico’s international trade in 2024:
- Process Digitalization: The adoption of technologies such as artificial intelligence and data analysis will accelerate, improving the efficiency and global competitiveness of Mexican companies.
- Security in Financial Services: Data protection and transaction security will be priorities, focusing on technologies that offer high standards of security to mitigate risks such as fraud and cyberattacks.
- Efficiency in International Payments: Companies will seek more efficient and secure solutions for their international payments, strengthening confidence in their commercial operations.
The push towards digitalization and security not only responds to global market demands but also prepares Mexico to remain competitive in an increasingly demanding commercial environment.
Sources
- Economic, S. (n.d.). Foreign Trade, Countries with Treaties and Agreements signed with Mexico. gob.mx. https://www.gob.mx/se/acciones-y-programas/comercio-exterior-paises-con-tratados-y-acuerdos-firmados-con-mexico
- International Trade Trends for 2024. (2023, December 19). America Retail.https://www.america-retail.com/mexico/tendencias-en-comercio-internacional-para-2024/
