As the coronavirus pandemic continues and United States-China trade relations stall, Mexico has been busy luring Asian investors.
Mexico is the host nation for the upcoming annual meeting of countries in the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP) trade pact.
The summit gives Mexican officials the opportunity to approach Asian countries — such as Japan — about investing in Mexico, said Graciela Márquez, Mexico’s economy minister.
In July, Márquez told Reuters that she has been speaking with Asian companies, particularly steelmakers, about investing and locating operations in Mexico. She pointed out that the new United States-Mexico-Canada-Agreement (USMCA) makes Mexico a favorable location for supply chains.
Márquez also said the Mexican government wants to speak with Apple and other U.S. firms about relocating their supply chains to Mexico.