American companies promise more investment in Mexico

President Andrés Manuel López Obrador said Wednesday that he held a meeting at the National Palace with businessmen from the United States, who promised to maintain and expand their investments in Mexico under the new trade agreement (T-MEC).

When questioned about the meeting at a press conference, López Obrador said Wednesday that the dinner centered around the “economic and financial” situation in Mexico and, in general, managers were “very optimistic about the country’s economic future.”

The President indicated that the executives of the companies belong to the Americas Society Council of the Americas, which is chaired by Susan Segal, with whom, he added, met two years ago in the United States when he was still a presidential candidate.

“In general, very optimistic about the economic future of the country, with the commitment to maintain investments and expand investments in Mexico under the Free Trade Agreement. It was a very good meeting,” said López Obrador.

López Obrador reported that Susan Segal and executives of Scotiabank, HSBC, Walmart, Chevron, Medtronic, The AES Corporation, MetLife, Kelloggs, Cisco, Amazon, Citi, Principal Financial Group, Sempra Energy, FedEx and American Tower attended the meeting.

The country’s financial outlook in 2019 was impacted by the lack of agreement between the United States, Mexico, and Canada to approve its new trade agreement, named T-MEC in Mexico, or USMCA in the United States and Canada.

However, at the end of the year an agreement was reached and the T-MEC was ratified by Mexico and the United States.

Canada is expected to do so in the coming months and the trade agreement enters into force in the middle of this year, which could benefit the arrival of foreign investment in Mexico.

Source: Notimex

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