It was a pleasure to welcome Mariana Campero, Senior VP International for De la Calle, Madrazo, Mancera (CMM), a Mexican consultancy firm that helps companies do business and invest in the country. The Chamber’s Americas Committee Chairman Evaristo Trevino Berlanga, Vice Chairman Mark Michelson and Bradley Harker, Senior Commercial Officer at the U.S. Consulate General, welcomed Mariana and discussed Mexico’s growing importance as a key nearshoring destination.
She said Mexico has a lot of added value to offer in terms of competitiveness, strategic advantages and incentives. Since Mexico started promoting special economic zones five to six years ago, around 50% of the companies operating in the zones are now Chinese investors. Nearshoring has become a growing trend as Chinese and international companies move production closer to customers to limit their vulnerability to shipping problems and geopolitical tensions, and also sidestep U.S. tariffs.
Lance Yau, Business Advisory Services Manager for the US-China Business Council, provided an insightful update at the Americas Committee meeting on 12 January on the business sentiment of U.S. companies doing business with Mainland China. Despite the challenges of the pandemic, 63% of businesses polled in USSBC’s survey last said profitability had increased in 2022, compared to 2021. However, more businesses (21%) were pessimistic about doing business in China in the coming five years, compared to 2021 (9%), due to geopolitics (73%) followed by the regulatory environment (66%).
Despite challenges, Yau said he was confident that the China market would continue to offer a lot of potential for U.S. companies. He said if companies were unable to participate in the China market, they would be at a global disadvantage compared to competitors who were active in China.