I’m in Mexico City this week with a trade delegation of six Arizona mayors led by Phoenix Mayor Greg Stanton.
Here are few takeaways from Day 1:
Vroom vroom: The auto industry is the engine of Mexico.
Some Auto parts cross the border eight times before becoming part of a finished vehicle.
The auto trade between the U.S. and Mexico is $126 billion, which is larger than Mexico’s total trade with the EU, Latin America and Caribbean combined.
Is there a doctor in the house? Mexico is the number 3 world export of medical tech and high tech as percentage of GDP.
Mexico is seeing major growth in medical device exports.
Mexico medical tourism is hot, coming in at number 2 globally, seeing over 1 million foreign patients a year.
Slow going. Mexico is growing, but it’s at less than 3 percent. Declining oil production isn’t helping.
But the glass is half full. One of the most attractive Latin American markets, with 120 million in population, a great location and free trade agreements with 45 countries.
Education is a challenge for all of us. Mexico has traditionally seen low enrollment rates and high dropout rates. A major education reform by President Enrique Peña Nieto is meant to be a desperately needed course correction.
The quality of Mexico’s teachers needs an upgrade, and the teaching model needs to modernize.
