Mexico must rethink its economic growth model
There are expectations that the Mexican economy will stall this 2017 and the political and entrepreneurial leaders in the Country are analyzing if a new economic model, less dependent on the U.S., is necessary. Nearly 80% of exports go to the U.S. Ildefonso Guajardo, Ministry of Economy, underscores the need to diversify commerce, which is why Mexico is accelerating negotiations in order to expand commercial agreements with the European Union and it started negotiations with Argentina and Brazil. Eduardo Garza T. Fernandez, President of the Frisa Industrias Group, weighs in that Mexican producers should buy more supplies in North America, instead of Asia, to reduce the shortage. In addition, “Things are going to become more expensive for Mexican companies”, “but there has got to be more integration”.