The top 33 Mexican companies with investments in Argentina

Among the main Mexican companies with investments in Argentina are AeroMéxico, Alfa, Alsea, Arca Continental, Calidra, Carnot Laboratorios, Cemix, Cerámica San Lorenzo, Cinépolis, Coca Cola FEMSA, Coppel, Farmacias Doctor Ahorro, Fondo de Cultura Económica, Genomma Lab and Grupo BIMBO.

Also noteworthy are Grupo Carso (América Movil-Claro), Grupo CEMEX, Grupo Fénix, Grupo Martín Cubero, Grupo Proeza (Metalsa), Grupo Rotoplas, Laboratorios Sanfer, Mabe, Medix, Mexichem, Omnilife, Sicelub Lubritech, Softek, Sucroliq, Televisa, Tenaris Tamsa, The Dolphin Company and Vista Oil&Gas, according to information from the Ministry of Foreign Affairs (SRE).

Regarding Argentina, French credit insurer Coface forecasts that economic activity will decelerate sharply in 2022, despite being supported by the positive statistical drag from the good economic performance in the fourth quarter of 2021.

In particular, Coface forecasts that household consumption (68% of GDP) will probably register a timid increase, driven by a relatively lower unemployment rate and by social transfers aimed at softening the negative impact of soaring consumer prices.

In fact, high inflation (historically fueled by monetary financing of the fiscal deficit) was exacerbated by the war in Ukraine and related sanctions (which increased global food and energy prices), and increased import restrictions (which led to risks of shortages of goods).

Mexican companies

Meanwhile, private investments (20% of GDP) should contract. This Coface outlook is driven by investors’ growing caution in the face of a fragile economic outlook (amid increasing capital controls and a widening gap between the official and parallel currency markets).

In fact, the spread between the two markets widened to 147% in July 2022 (from approximately 100% in January 2022).

Moreover, according to Coface, public investments should remain low due to fiscal constraints.

Finally, it predicted exports (21% of GDP) will be supported by tailwinds from still-high agricultural and mineral commodity prices that favor Argentina’s foreign sales.

However, the drought and the strong shakeout in world markets for agricultural inputs (fertilizers, seeds, etc.) should reduce producers’ margins.

The SRE considers that the trade relationship between Mexico and Argentina, the second and third largest economies in Latin America respectively, is strategic due to the size of their markets and the cultural and historical ties that unite us.

The Economic Complementation Agreement No. 6 (ACE 6) and the Economic Complementation Agreement No. 55 (ACE 55) are the legal mechanisms that govern the bilateral trade relationship between both countries.


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