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T-MEC Boosts Industrial Partnerships And Projects In Mexico
Following (and mostly thanks to) the entry into force of the T-MEC trade agreement between the USA, Canada and Mexico, seven large industrial projects, including Tier 1 and Tier 2 automotive ones, will be completed at the World Trade Center Industrial Park in San Luis Potosí.
“Despite the economic crisis due to the COVID-19 pandemic, T-MEC gave a boost to the Mexican economy and in particular to its industrial ecosystem in San Luis Potosí” said José Luis Contreras, Executive Director of Grupo Valoran (commercial real estate), while commenting on the new string of investments within the State’s World Trade Center industrial park.

José Luis Contreras went on to say that due to privacy and negotiation policies, he was not able to 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 disclosed at a later time. 
He did confirm however, 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, reminded that the new rules of the T-MEC have induced assembly companies to look for suppliers who respect the percentages indicated within the regulatory framework. The Nuevo León Automotive Cluster predicts both Asian and European companies will establish themselves in Mexico, specifically in Nuevo León, which has been particularly attractive for automotive suppliers.

According to Mr Montoya "Our assembly companies are looking for suppliers and there are two avenues; either you get a supplier who is already in one of the three T-MEC countries or you bring your supplier from Asia or Europe to settle here. This will create more business for local and national companies and there will be more companies that will establish a presence in the country" adding that "Today we have more than 200 prospects interested in Mexico and Nuevo León. 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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