09 Mar Advantages of the TMEC in foreign trade

Mexico is one of the countries that has obtained the greatest participation in international trade in Latin America. It should be noted that the country is highly dependent on foreign trade and its commercial relations. Likewise, the country aims to negotiate new trade agreements and promote its products in order to consolidate itself as an export power and investment destination. For this, the country has many points in its favor, which helps it to continue growing constantly. One of them is the strategic relationships and alliances it has. Currently, Mexico is the main trading partner of the United States. What allows the exchange of goods in greater proportion. In addition, through the Treaty between Mexico, the United States and Canada (T-MEC) it allows an open economy, reinforces commercial interactions and carries out a more comprehensive economic interaction. For what turns each sector into a competitive industry and a more productive integration.

One of the advantages of the T-MEC is to guarantee stability in foreign trade. As well as reinforcing the competitiveness of Mexican companies to continue in constant changes to become exporting powers. Likewise, this leads to generating greater investment and improvement in the systems integrated in the value chain. Therefore, it is expected that in the following years it will continue to grow and obtain growth in the Mexican economy.

On the other hand, through the T-MEC, electronic and digital commerce is also reinforced. Which has been growing over the years. In addition, it has generated that companies seek to adapt to the changes that apply technology in their product trade. Which, modified both their operations, logistics and management of the same. Changes in consumer and user behavior must also be taken into account. For which, it is recommended to carry out a detailed investigation on the markets to which the companies are directed and by what means they manage to generate the first contact with the company. For this, changes and evolution should not be considered as a threat. But as an opportunity to achieve greater differentiation and position yourself more efficiently, whether in a B2B or B2C market. With this, a greater participation of companies of different sizes, items and sectors of Mexico in international trade will be achieved.

In conclusion, the T-MEC will provide various opportunities in foreign trade and the growth of the Mexican economy. From this, maintain long-term trade relations with each of the member countries. Likewise, it seeks to obtain greater facilities for customs procedures and simplify merchandise transit activities. In this way, Mexico can continue to position itself as one of the countries with the highest growth in the international market and obtain greater preferential access in the most powerful markets.

References

Docusign. (05 august, 2021). 5 ventajas del T-MEC que favorecen el comercio exterior mexicano.  https://www.docusign.mx/blog/ventajas-del-t-mec

Thomson Reuters. (2021). Las 5 macrotendencias del comercio exterior en México.  https://www.thomsonreutersmexico.com/es-mx/soluciones-de-comercio-exterior/blog-comercio-exterior/las-5-macrotendencias-del-comercio-exterior-en-mexico

Santander Trade Markets. (2019). Cifras del comercio exterior en México.  https://santandertrade.com/es/portal/analizar-mercados/mexico/cifras-comercio-exterior#:~:text=M%C3%A9xico%20es%20altamente%20dependiente%20del,de%20datos%2C%20petr%C3%B3leo%20y%20maquinaria

Utrera. P. (28 may, 2021). Beneficios del T-MEC para impulsar el comercio exterior.  http://aduanasrevista.mx/beneficios-del-t-mec-para-impulsar-el-comercio-exterior/