Recently appointed Obama administration Secretary of Commerce, Penny Pritzer, will be making her first trip to south of the border in her new official capacity this coming November 17th. She will be meeting her counterparts to seek opportunities to f further expand U.S. – Mexico economic cooperation and ties.
Pritzer believes that there are opportunities in Mexico in the areas of advanced manufacturing and health information technology that can be tapped by U.S. businesses to increase their export sales. In turn, the new commercial secretary believes that as more areas in which to grow ties for greater U.S. – Mexico economic cooperation evidence themselves, the U.S. will solidify more linkages and partnership. In such partnerships, she believes that U.S. companies will often play the roll of the “innovator, ” while Mexico will adopt that of the manufacturer.
When questioned about security concerns in Mexico, Pritzer commented that violent cartel activity has recently diminished as the result of the Mexican government’s crackdown on the trafficking of illicit substances. In addition to being safer, the new Secretary of Commerce cites reforms made by the government of president Enrique Peña Nieto a reason to strengthen trade communications between the two countries on an official level. Peña Nieto has proposed and successfully implemented changes that will be favorable to investors in Mexican labor law, as well as made suggestions to bolster the countries education and energy sectors with an eye toward promoting the country’s economic development.
Greater U.S. – Mexico economic cooperation can produce particularly beneficial results for both country’s. Recently, the stature of China as the destination of choice for foreign investment in manufacturing has diminished. The gap between operating production facilities in China as opposed to making product in the U.S. or Mexico has diminished significantly over the last few years.
The full original article can be read at the Los Angeles Times.