G20 Trade and Investment Promotion Summit to Convene Global Leaders Following Up from B20 and G20 Summits in Los Cabos

On November 5-6, the G20 Trade and Investment Promotion Summit will take place in Mexico City where global leaders on trade and investment will convene. The Summit’s objective is to continue an ongoing dialogue between the trade and promotion agencies of the G20 countries in order to build synergies and foster cooperation. Organized by ProMexico, the Organization for Economic Co-operation and Development (OECD), the United Nations’ Conference on Trade and Development (UNCTAD), and the International Trade Centre (ITC), and event’s goal is to have a common call to action on trade and investment promotion which all parties can work upon over the course of the coming year, and present the results within the framework of the G20 Summit in Saint Petersburg, Russia in 2013.

Presidents, CEOs, director generals or undersecretaries of the trade promotion organizations or investment promotion agencies of the G20 member states and invited guests will be attending this exclusive event. Keynote speakers include: ICC’s executive director of policy and business practices Stefano Bertasi, World Trade Organization’s chief of staff Arancha Gonzalez Laya, UNCTAD’s director of investment and enterprise division James Zhan, the Australian Trade Commision’s executive director for education and corporation operations Peter Yulie, OECD’s secretary general Dr. Jose Angel Gurria, the Spanish Trade Institute’s delegate counselor Maria del Coriseo Gonzalez, among many others.

Continue reading on the G20 Trade and Investment Promotion Summit in Los Cabos at MexicoToday.org!

Mexico To Manufacture Aircraft with 100% Mexican Components

In the next ten years, Mexico will be manufacturing an aircraft made up of 100% domestic components. During a presentation at Mexico's Aerospace Summit in Chihuahua, Mexico, Luis Oliva, head of ProMexico's investment promotion and international business unit, said that foreign aerospace companies are investing more than $1 billion in manufacturing ventures in the country each year. As part of the Summit, representatives of the company Zodiac Aerospace signed an agreement to invest $14 million in the region's aerospace industry.

Mexico's Booming Garment Manufacturing Industry

Did you know that not only is Mexico a leader in the automobile and aerospace engineering and manufacturing industries, but in the textile manufacturing business as well? According to data from Banxico (Banco de Mexico), the Mexican Chamber of Garments Industry, and Camara Nacional de la Industria del Vestido (Canaive), sales of clothing garments made in Mexico abroad are assisting national production levels from falling. Banxico’s data reveals that exports have started growing over the past 2 years; in the first half of 2010 they grew 5.3% and from January to June 2011 growth was 7.8%.

Mexico Central Bank Keeps Benchmark Rate Unchanged

The “pace of economic activity appears to have slowed,” while domestic demand has lost some dynamism, the central bank said in the monetary decision statement. “We don’t expect generalized price pressures in the economy,” the bank said.

Banxico, as Mexico’s central bank is known, is saying “the traditional list of domestic risks to inflation is practically clean. The risks could come from international volatility,” Luna said in a telephone interview from Mexico City.

Industrial production grew 1.4 percent in April from a year earlier -- the slowest expansion since the 0.6 percent increase posted in December 2009 -- from 4.4 percent in March, the nation’s statistics agency reported June 13.

Read the full article here.

"Mexico's Bullet-Proof Economy"

Today the Financial Times has published an article on their economic blog, "beyondbrics", that talks about how Mexico's economy is doing very well, surpassing all predictions, despite the unrest at the U.S.-Mexico border.

Mexico, more and more, is proving to be extremely stable in macroeconomic terms and in its relations with other countries, providing a sound platform for business activity.

The article mentions that this actually isn't an uncommon scenario. If you take Columbia for instance, the economy grew remarkably between 1980 and 2010, when the country was at a zenith in it's fight against crime. Mexico's economy is rapidly growing, proving a stable place for investment. What has your experience in investing in Mexico been in the recent years or months?

All comments are welcome.

Cartstens Promises to Boost Emerging Economies if Chosen for IMF

The head of Mexico’s central bank, Agustin Carstens, said today that if chosen as the top official at the International Monetary Fund he will work to increase representation for developing countries. He also spoke of increasing the IMF’s abilities to deal with financial crises, something that after managing the economic crisis of 2008 and with vast experience as the head of Banxico, he is well suited to do.

Agustin Carstens told the IMF’s 24-member executive board today that the world’s emerging economies needed a bigger voice in IMF decisions.

What is your opinion on the topic?

Source: The Washington Post