El Ambassador of Spain in Mexico , Luis Fernández-Cid of Pumariño Arias presented on April 26 at the premises of IEC International Affairs an overall assessment of the current situation in Mexico from the economic, political and social level, as well as relations the country has with Spain on a commercial level and diplomat. Furthermore, it was also discussed investment opportunities Mexico offers and on macroeconomic developments experienced by the country, which has made him an extremely attractive market for Spanish companies.
As an American, Central American, Ibero-America, Atlantic, Caribbean and Pacific country, Mexico has a unique strategic position in the international arena. This is also a very open and dynamic country, which has become the state with the highest number of free trade agreements signed to date, and whose macroeconomic stability and ample attracting foreign investment have placed under index World Bank “doing business 2016” as the most attractive country to do business in Latin America. Thus, the sectors with most projection in the country are energy, tourism, aeronautics, automotive or telecommunications to name a few, not to mention the infrastructure.
Politically, President Peña Nieto promoted in 2013 the Pact for Mexico, which has allowed to carry out a program of structural reforms of great significance, especially in political, educational, fiscal and financial, telecommunications and energy. Through these measures have been tried to liberalize the productive sectors and overcome structural weaknesses that have prevented over the years the country’s economic growth. In any case, although the estimated impact of the reforms has been slow to occur, it is undeniable that the figures in this regard are positive. In the first year of the presidency of Peña Nieto, GDP grew by 1%, 2% in 2014, 2.4% in 2015, and is expected to arrive this year to 2.7%.
Aula Internacional Mexico – CEI International Affairs, Barcelona
As regards the external plane, it is important to highlight the grand opening of Mexico to international markets. On the one hand, through the Pacific Alliance has created a common market with Chile, Colombia and Peru; while on the other side it is p>
strengthening its relations with Asian countries and the United States by signing the Trans-Pacific Economic Cooperation Agreement (TTP) and the block of MIKTA (Mexico, Indonesia, Korea, Turkey and Australia). On the other hand, the Ibero that since its first edition in 1991 have been boosted by Mexico and Spain in the last Summit of Veracruz, where participating States discussed education, innovation and culture.
Overall, the bilateral relations between Spain and Mexico has been marked by a shared history and language that have created an important link of complicity between the two countries. In 2014, during the XI Binational Commission, a battery of bilateral agreements and memoranda of understanding that reinforced the institutional relationship was prepared and were signed during state visit of President Peña Nieto to Spain. This visit, along with the State Visit of Their Majesties the Kings to Mexico in 2015, highlighted the extraordinary moment in the bilateral relationship.
Aula Internacional Mexico – CEI International Affairs, Barcelona
Also, both countries have an extraordinary economic and trade relationship. With more than 5,500 Spanish companies, our country is also the second largest foreign investor in Mexico, while Mexico is the sixth largest foreign investor in Spain. Trade remain constant, around 9,000 million dollars annually, fluids and a balanced trade balance between both countries.
It notes that Spanish companies are highly integrated in the Mexican market, contributing to the revitalization and developing its activity with a high degree of social responsibility.
Mexico, like all countries, faces a number of challenges, challenges in security, economic growth or consolidation of structural reforms, but also, thanks to its enormous potential, strengthens its weight in the region and as an actor on the international scene.
Article written by
Sra. Cristina Rodríguez Box
student of Master in Diplomacy and International Civil