EconomyTrade and industrial policy: the challenges of Raquel Buenrostro...

Trade and industrial policy: the challenges of Raquel Buenrostro in Economics

The arrival of Raquel Buenrostro at the Ministry of Economy represents a challenge for its new head, since there are issues on the international agenda that deserve special and prompt attention, especially in foreign trade.

Mexico faces consultations on energy policy, requested by the United States and Canada, which have been prolonged by an agreement of the three member countries of the T-MEC, before there is an international arbitration.

The other issue that is resolved in this area is the dispute settlement panel requested by Mexico on the application and interpretation of the rules of origin in the automotive industry, a case that could be resolved by the end of this year.

In a context of commercial differences, in which an international panel is intended to be avoided, it is important that the new Minister of Economy meets certain characteristics such as knowing the private sector, and that she is in favor of investment and international trade, Iván Franco agreed. , founder of TripleThree, and José Antonio Salazar Andreu, academic secretary of the School of Government and Economics of the Universidad Panamericana (UP).

Jesús Carrillo, director of Sustainable Economy of the Mexican Institute for Competitiveness (Imco), considered that among the important elements of Buenrostro’s appointment they highlight that he is a person of all the confidence of the president, something that is taking on greater relevance in the cabinet.

“The cabinet is built more and more from the closeness of the president,” said the economist.

Carrillo stressed that Buenrostro was a very important figure from the fiscal side, and now he will have to think about industrial policy, the issue of consultations on energy matters and help promote business activity.

Salazar Andreu, from the UP, added that although Raquel Buenrostro has a good technical profile, it will be different to treat taxpayers backed by the governments of the United States and Canada: “she is not a familiar face in energy matters, much less in diplomacy,” he added. .

“You will have to be smart to find allies,” added the Imco specialist.

Carrillo commented that trade agreements with Ecuador and the United Kingdom are also pending: “He does not have much choice, given a short learning curve, there is a crucial issue for the Mexican economy, there is a very important point of pressure in energy policy.”

Private business organizations expressed their support for the newly appointed Secretary of Economy.

“The International Chamber of Commerce Mexico (ICC Mexico) values the technical capacity and professionalism demonstrated by the new Secretary of Economy, Raquel Buenrostro Sánchez during her tenure as head of the SAT and senior official of the Ministry of Finance, and puts at your disposal all the technical capacity of the world organization of companies, in order to contribute to the best performance of his position”, the institution said in a statement.

“The members of our organization are aware of the willingness of the new head of the Ministry of Economy to listen and attend to the proposals of the business community, with the intention of obtaining the best productivity conditions for Mexico,” he explained.

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