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T-MEC clone boosts partnerships and industrial projects in Mexico
Following (and mostly thanks to) the entry into force of the T-MEC trade agreement between the U.S., Canada and Mexico, seven major industrial projects, including Tier 1 and Tier 2 automotive projects, will be completed at the World Trade Center Industrial Park in San Luis Potosi.
"Despite the economic crisis due to the COVID-19 pandemic, the T-MEC gave a boost to the Mexican economy and in particular to its industrial ecosystem in San Luis Potosi," said Jose Luis Contreras, CEO of Grupo Valoran (commercial real estate), commenting on the new string of investments within the state's World Trade Center Industrial Park.

Jose Luis Contreras said that due to privacy and negotiation policies, he could not provide details on the value of the investments nor the number of jobs at the time of the announcement, but these figures - relatively large - will be released at a later time. However, he confirmed that most of the companies will operate in the automotive, metalworking and logistics sectors. "They are suppliers to the manufacturing industry, they are Tier 1 and Tier 2,"
T-MEC will attract investments from Asia and Europe: Automotive Cluster

Manuel Montoya, President of the National Network of the Automotive Industry Cluster, recalled that the new T-MEC rules have led automakers to look for suppliers that respect the percentages indicated within the regulatory framework. The Nuevo Leon Automotive Cluster expects both Asian and European companies to establish themselves in Mexico, specifically in Nuevo Leon, which has been particularly attractive for automotive suppliers.

According to Montoya, "our assemblers are looking for suppliers and there are two ways; either you get a supplier that is already in one of the three T-MEC countries or you bring your supplier from Asia or Europe to set up here. This will generate more business for local and national companies and there will be more companies establishing a presence in the country" and added that "Today we have more than 200 prospects interested in Mexico and Nuevo Leon. Some at an exploratory level, but basically they come from the United States, Germany and China and are planning to come here".

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