President Enrique Peña Nieto participated in the panel on “Economic Outlook for Mexico in Germany” in Hamburg, Germany, where a Mexican Consulate was established  in 1829. It confirms the interest of Germans and Mexicans in establishing closer ties of friendship and strengthening economic relations.

“We are promoting the development of business activities, such as business forums, missions, fairs and seminars, such as the Bilateral Mexico-Germany Business Summit, scheduled to take place in Guadalajara in June.”

In 2015, bilateral trade exceeded 15.75 billion Euros, approximately 21% more than in 2014. This makes Germany Mexico’s fifth largest trading partner worldwide.

In the past 16 years, cumulative Foreign Direct Investment from Germany exceeded 9.1 billion Euros. There are 1,800 thousand companies in Mexico with German investment, which create 120,000 direct jobs. 

For its part, Mexico is one of the Latin American countries with the greatest investment in Germany by major corporations, which have steadily been increasing production.

Mexican companies in Germany include Cemex in construction, Grupo Bocar and Nemak in auto parts; Ruhrpumpen in industrial pumping; and Mexichem in the chemical industry.

“The goal now is to maintain and this trade. Mexico offers many advantages for productive investments.” 

Economic reforms in Mexico: A horizon in Mexico-Germany relations

On the basis of six structural economic reforms, it is building a suitable environment for business to increase productivity and competitiveness:

Labor Reform, which increases the flexibility of the job market, making it much easier for women and youth to engage in productive activities.

Financial Reform, designed to extend credit levels and make credit cheaper.

Telecommunications Reform, which has reduced telephone charges and is driving new investments in this sector, precisely to avoid monopolistic practices and encourage greater competition within it.

Anti-trust Reform, designed to encourage and create a regulatory body that will be strong enough to combat monopolistic practices and open markets up to new competitors.

Fiscal reform, which strengthens public finances and helps depetrolize income.

Energy Reform, which has reduced energy costs and opened up participation to the private sector throughout the value chain of hydrocarbons and in the electricity sector.

"The main opportunity Mexico offers nowadays is its transformation. Mexico is changing for the better. As a result of an unprecedented political agreement at the beginning of my administration, we renewed our legal and institutional framework, which is leveraging the potential of our country.”

This transformation is being complemented by an economic policy in favor of macro stability, infrastructure development and implementation of new generation public policies; promoted by the Mexican government. It offers significant advantages and strengths, for companies from Germany and the rest of the world.

“I am confident that this state visit is just the start of a growing economic, trade and cultural exchange.”