EconomyTMEC: Mexico, the US and Canada have the potential...

TMEC: Mexico, the US and Canada have the potential to be a world energy pole

The partners of the Treaty between Mexico, the United States and Canada (T-MEC) have all the potential and resources to be one of the most outstanding energy poles in the world, Vladimiro de la Mora, president of the American Chamber chapter, agreed on Wednesday. Mexico (AmCham), and Enrique Zorrilla, president of the Canadian Chamber of Commerce.

To trigger investments and strengthen the relationship between the T-MEC countries we have to “see the long-term situations, in energy we can be an energy pole; we have gas, sun, wind, and the companies have commitments to shareholders to have and use clean energy, it will be a demand that the market will have. We can make the North American pole a global energy leader”, shared De la Mora, when participating in the T-MEC panel, the Society that We Need to Detonate at the Expansión Summit 2022.

In this sense, the opportunities are great, since the transition of the automotive industry towards electromobility is going to lead us to new forms of production and its energy inputs, especially in the semiconductor industry, explained Enrique Zorrilla, from the Chamber of Commerce from Canada.

“These are elements that allow taking advantage of opportunities, they are enormous and have been emphatically put on the table.” In the case of Canada, they are broad in the agro-industrial sector, “also in the mining sector, which has not decreased at all, also the aqueduct for Coatzacoalcos has just been assigned; also in the matter of SMEs, particularly in Mexico, the opportunities are great”, added Zorrilla.

They await solutions to controversies in consultations

Opportunities are envisioned within the framework of the T-MEC despite the fact that there are currently consultations on energy, automotive and labor matters, since the agreement clearly sets the rules for dialogue and search for solutions, commented the president of AmCham.

“The relationship is very complete, there are many areas where there will be disagreements, that is why it is important to have clear rules for dialogue and search for solutions. We have seen that the dialogues have been carried out, this week the high-level economic dialogue took place, these are signs of the importance that this relationship has for the three countries,” said the AmCham executive.

According to the president of the Canadian Chamber of Commerce, the Treaty has mechanisms to resolve controversies, “in this context, the dialogue has just begun, and there is the conviction of the power that the TMEC gives us to the three countries.”

In order to boost investments in the region, especially in Mexico, taking advantage of the proximity to the United States and the reconfiguration of supply chains at a global level, Zorrilla considered that a strategy for the promotion of the country for investments is urgent, emphasizing its attractions such as the workforce, and evolve from manufacturing to design taking advantage of the demographic bonus.

“Mexico is a country with enormous attributes in a profound way, of human, technical, educational training, they must be promoted, communicated as reliable allies (…) in that sense, I would say two fundamental issues: the promotion of the country, and secondly , the consistent validity of clear laws for investment”, explained the executive of the Canadian Chamber of Commerce in Mexico.

The president of AmChan added that in Mexico every year there are 2.2 million young people joining the labor market, “in our companies there is how to generate well-paid employment for these young people, to our partners the United States and Canada, labor is needed There is a great opportunity there”, he concluded.

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