Javier Gaxiola participates in the “Investing in America” ​​Summit organized by the Financial Times

New York, USA, October 6, 2022.- Participating in the panel “Close to Home Spotlight: Mexico” within the framework of the “Investing in America” ​​Summit held in New York, the Secretary of Economy of Sinaloa, Javier Gaxiola Coppel, He highlighted that Mexico and the United States (EU) are key partners in a new global economic scenario.

The forum organized by the Financial Times and Nikkei, and in which government officials from the main economies participate, as well as owners and senior executives of multinational firms, had the purpose of opening the discussion on the business environment in the US, its investment opportunities and the role that the different sectors are assuming to attract business and investment.

At the beginning of his participation, Javier Gaxiola recalled the history of complex brotherhood that exists between both nations, but of cultural, social and economic interconnection of more than 200 years.

He highlighted that, at present, our country is the main trading partner of the US, with a volume of 70.3 billion dollars as of August 2022, surpassing Canada and China, which were in second and third place, respectively.

He mentioned that the T-MEC gives the opportunity to produce in Mexico and serve the US market, and that the country is ready to receive investments for Nearshoring.

“We have the connectivity and logistics infrastructure to receive, process and export the products, as well as quality labor, and an educational system to continue training professionals,” he said.

The Secretary of Economy of Sinaloa, considered it preponderant that, as a region, Mexico, the United States and Canada promote public policies with a view to being more competitive and achieving integration as happened in Asia and Europe.

“In Mexico we have sectors of great opportunity: semiconductors, health services and pharmaceuticals, artificial intelligence, renewable energies and aerospace,” he assured.

He took the opportunity to put Sinaloa on the world map, sharing that our State has a privileged location in the Pacific for the entry of products.

In addition, he highlighted that 50 percent of the population is under 29 years of age, so it can be guaranteed that there is human capital to meet the long-term vision of companies that are interested in investing.

“In Sinaloa we are on the right track, large investments, the ammonia plant, the largest private investment, the only one in the Pacific, the multinational Sempra Energy, as well as advanced manufacturing projects in the south of the State, mainly in the aerospace, instrumental doctor, among others”, he commented.

It also showed that Sinaloa is the 8th most competitive state, the best place to work in the country and the 5th in rule of law.

Along with Javier Gaxiola, Enrique Perret, president of the Mexico-United States Foundation, and Roberto Velasco Álvarez, head of the North American Unit of the Ministry of Foreign Affairs, participated in the panel, moderated by Steff Chávez, correspondent for the Financial Times in Chicago, agreed on the importance of strengthening the commercial link with the US and listed the main companies with the greatest presence in that country and what they contribute to its GDP.

Present at the meeting were Peter Spiegel, director of the Financial Times; Shigeru Seno, director of Nikkei and Tomonori Wada, president of Sumitomo for America, a Japanese company with 11 plants in Sinaloa, which already generates more than 8,000 jobs and will soon increase its operations.

Also present were Tim Wennes, president and director of Santander; Gerald Walker, director of ING; Mark Nikolich, director of Braskem; Darcy MacClaren, Vice President of SAP; Jane Thomas, President of Teijin Holdings; Catherine Hein, president of the Foreign Investment Committee of the United States Department of the Treasury, among others.