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Supply chains: the Ministry of Economy and the Department of Commerce will work together

The Mexican Ministry of Economy and the United States Department of Commerce reported that they will create a working group on supply chains.

The agreement was carried out within the framework of the High Level Economic Dialogue between Mexico and the United States (DEAN), in Washington, DC.

In general, the Bilateral Working Group on Supply Chains will have the function of identifying areas of complementarity in new and existing chains, adhering to the interests of each country.

For this, the Secretary of Economy, Tatiana Clouthier and the Secretary of Commerce of the United States, Gina Raimondo, shared their vision in which the DEAN becomes the platform that allows the post-pandemic economic recovery by promoting specific priority actions and bilateral character, based on coincidences and that allow adding to the efforts that both governments carry out within the framework of the T-MEC and the other existing bilateral collaboration mechanisms.

The secretariats chaired the meeting in which the delegations discussed the four agreed pillars, which frame the strategic vision that both countries will give to their economic relationship in the coming years: rebuild together; promote economic, social and sustainable development in southern Mexico and Central America; secure the tools for future prosperity, and invest in our people.

Supply chains

On the first pillar, Reconstruir together, Mexico and the United States will create a Bilateral Working Group on Supply Chains to identify areas of complementarity in new and existing chains, in order to maintain their proper functioning in the face of possible disruptions, increase competitiveness, attract production lines from other regions in the world and reduce vulnerabilities in critical sectors, adhering to the interests of each country.

They also agreed on the importance of having modern, efficient and safe border infrastructure and trade facilitation procedures.

The second pillar, Promoting economic, social and sustainable development in southern Mexico and Central America, will encourage the United States to provide technical cooperation to address the structural causes of emigration in northern Central America.

In particular, it will collaborate with the Government of Mexico in the Sowing Life and Youth Building the Future programs in the region.

Investment

In addition, the respective United States agencies will implement activities to develop value chains; for example, through the better link between agricultural producers and consumers or the creation of bankable projects that attract private investment. Both countries will collaborate to promote trade and promote investment in productive projects that promote regional development.

Recognizing the importance of having a strong and secure digital environment, it was agreed that work around the third pillar Securing the tools for future prosperity will focus on mitigating cyber threats to supply chains in a coordinated manner and also improving flow of data between the two countries.

Both governments share the priority of a more egalitarian economy, so the fourth pillar, Investing in our people, will focus on providing vulnerable populations such as women, youth, indigenous people and LGBTQ + training in the necessary skills to be competitive in the economy. of the 21st century.

 

Supply chains, Supply chains: the Ministry of Economy and the Department of Commerce will work together

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