U.S.-Mexico Dialogue Expands Economic Cooperation

April 30, 2013
Assistant Secretary Fernandez at the U.S.-Mexico Economic Dialogues

The United States and Mexico share many similar interests and concerns. We are also at a very special state in our economic relationship. President Obama has called it a moment of opportunity. Others have said this is Mexico's moment.

Having personally worked with Mexico in the private sector for almost three decades and now at the U.S. Department of State, I am thrilled by the Obama Administration's focus on deepening and elevating our already close cooperation on economic issues. Mexico, a major regional power that actively engages on global economic issues, offers huge possibilities for increased economic cooperation. It is in both our interests to increase economic integration among the NAFTA partners in order to make our economies more competitive.

Just looking at the numbers, it is easy to see why we focus on the economic relationship. The United States and Mexico, together with Canada, make up an integrated North American production platform, producing top globally competitive manufacturing exports, including automobiles, aircraft, and high tech consumer goods.

Mexico is one of the United States' largest trade partners, with half a trillion dollars in two way merchandise trade in 2012. That is more than a billion dollars a day in trade, and that number does not even capture our trade in services. Tens of millions of Mexicans and Americans legally cross our common border each year to visit relatives, do business, and conduct tourism. Moreover, U.S. inputs make up approximately 40 percent of goods exported from Mexico to the United States.

But it is more than numbers, no matter how impressive. The people of the United States and Mexico have a long history with extensive ties. This gives both sides a compelling reason to move forward together.

On April 11-12, 2013, five Assistant Secretaries across four different U.S. cabinet agencies, myself included, met with senior Mexican officials in Washington. The April session continued discussions that we started last January, when we traveled to Mexico for official government economic talks. We discussed expanding economic cooperation in several areas, including entrepreneurship, trade, and investment. These dialogues aren't meant to stand alone though. It is the resulting actions that come out of these talks that strengthen the relationship further. Moving forward, our governments agreed to further economic collaboration -- covering shared competitiveness and connectivity, economic growth and innovation, and partnerships for global leadership.

Our goal was to strengthen our bilateral economic relationship and set the stage for President Obama's trip to Mexico later this week.

Developing our economic relationship will ensure that we continue to prosper and to grow even further, and that is in all of our interests.

Comments

Comments

John R.
|
California, USA
April 30, 2013

John Scott R. in California writes:

Grate now if you just stop theme running the ports I be able too fide a job

.

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