Mexico selected 10 of the main objectives of its trade policy, according to a report by the World Trade Organization (WTO).
Through the Sectoral Program for the Economy 2020-2024, Mexico is committed to developing and implementing comprehensive policies for innovation, diversification and productive and commercial inclusion; stimulating domestic and foreign investment; promoting the use of mineral resources; and boosting the economy’s productivity and competitiveness to enable its integration into regional and global value chains, in order to contribute to generating well-being for its population.
For this reason, four important areas of action were established:
- Promote innovation and economic development in the productive sectors.
- Promote competition in the domestic market and regulatory improvement.
- Promote the creation and consolidation of productive micro, small and medium-sized enterprises (MSMEs) for greater productive inclusion.
- Promote economic diversification for greater equality among regions and sectors.
Mexico’s trade policy is framed within this last objective, and to this end, the federal government has drawn up 10 lines of action:
- Strengthen the network of trade and investment treaties and agreements.
- Design strategies and actions to promote the insertion and participation of Mexican companies in global and regional value chains.
- Diversify agrifood products for export, as well as seek new markets to import goods that guarantee supply in the domestic market.
- Promote the increase of domestic content in exports, within the framework of our international commitments.
- Design nationwide dissemination schemes so that Mexican companies can take better advantage of the different trade and investment instruments.
- Design a tariff strategy that allows the productive chaining, in order to increase competitiveness in Mexico.
- Prepare analyses or studies on the diversification of markets or potential products for Mexican exports, through trade intelligence methodologies that present opportunities for regional economic development.
- Disseminate information, studies and analyses among the government and business sectors for the diversification of national exports.
- Ensure the technical support of public laboratories to evaluate the quality and safety parameters of export products.
- Strengthen global value chains to boost exports of medicines and medical devices.
This has underpinned Mexico’s trade policy work, which has allowed the export sector and the attraction of FDI to continue to be key components in national economic development, in the generation of more and better jobs, in access to new technologies and production processes, and in a greater supply of goods and services at competitive prices for consumers, producers and suppliers.