British Government Sees Opportunity in Mexico
The number of British government initiatives in Mexico points to the high degree of confidence that the UK has in the Mexican economy.
For example, in April this year the UK's ambassador to Mexico, Judith MacGregor, met with Tijuana mayor Carlos Bustamante Anchondo to discuss ways to build more jobs, widen business relations between the two countries and prepare Tijuana for foreign manufacturing in Mexico investment.
During the meeting, Bustamante Anchondo said Tijuana is experiencing significant economic growth and decreasing crime rates. The city has ambitious plans for urban development and is working directly with the United States on immigration issues. The mayor said that numerous companies dealing in medical care, technology, research and development, and the aerospace industry had decided to locate to Tijuana. Manufacturing in Mexico is expected to increase significantly.
Ambassador Macgregor said that Tijuana's strategic location would help attract foreign investment. "Currently there is a good perception of Mexico and its borders, compared to the past. Now Mexico is seen as an optimum place to invest and it has a highly trained workforce." The maquiladora industry will most likely benefit.
Mexico is a growing market, the 7th largest in the world. Recently MacGregor met with representatives from the Cambridge Weight Plan, a UK company offering clients help with weight loss, general health and nutrition. MacGregor said that the Cambridge Weight Plan had the highest level of approval from UK Trade & Investment (UKTI), a government organization that helps UK companies establish a global presence. The Cambridge Weight Plan is well-poised to enter Mexico's dynamic and expanding market.
MacGregor also said that investment in education is the UL embassy's highest priority goal for 2013-2014. Mexico offers British businessmen substantial opportunities for commerce and investment in science, education and innovation. She expressed an intention to keep building and strengthening ties in order to collaborate more efficiently. The planned investments in education are expected to train a highly skilled workforce in Mexico in the areas of technology and science, who will help increase the potential of manufacturing in Mexico.
Ambassador MacGregor stated that: "Mexico is seen as a greater market, but is considered as an even bigger and more efficient manufacturer, producer and player in the export supply chain for North America, Canada and the US. Not only there but also in Latin America." Her view echoes those who point out that foreign direct investment in Mexico has risen substantially since the early 2000s and the maquiladora industry is still in the process of growing.
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