I recently returned from a meeting in Dallas in which economists discussed the changing world economy. The European Union’s current growth is catatonic and prospects for improvement seem dim for the medium-term. China’s growth is leveling off and it is experiencing issues with the development of skilled labor. Meanwhile, in the NAFTA (North American Free Trade Agreement) zone, comprised of the U.S., Canada and Mexico, the experience is quite different. It was the conclusion of the economists in Dallas that this North American bloc is driving world economic growth. All three countries are seeing growing GDPs and an increase in employment numbers.
Twenty years after NAFTA was passed, the three partners have integrated their economies to the benefit of production operations that are thriving in North America. Couple this with the fact that oil production is booming in all three countries, particularly due to new technologies, and a situation is created in which the region is in a position to control its own economic destiny.
The North American situation presents tremendous opportunities for New Mexican companies wishing to explore export opportunities to either Mexico or Canada. The IBA can help research specific markets and assist in the establishment of potential buyers of products and/or services. Please contact our office if you are interested in exploring your North American market.