Recently, the Secretary of Economy, Ildefonso Guajardo Villarreal, held a meeting with Ivy R. Taylor, Mayor of San Antonio, Texas, who is leading a trade mission to Mexico, where several member companies of the Chamber of Commerce of that city are involved.
During the meeting, the Secretary of Economy and the Mayor reviewed the state that holds the commercial relationship between Mexico and San Antonio, and the business opportunities that exist in sectors such as aerospace, oil refining and chemicals, manufacturing, technologies of information and biotechnology.
Guajardo Villarreal highlighted that the closeness between Mexico and San Antonio is historical and was accentuated by the entry into force of the North America Free Trade Agreement (NAFTA) in 1994. Since then, the Secretary of Economy said, San Antonio has played a key role in increasing trade between Mexico and the United States, since a significant amount of goods that both countries exchange are passing through that city.
Both officials agreed that the relationship between Mexico and San Antonio has deepened itself through initiatives such as the High Level Economic Dialogue (DEAN, by its initials in Spanish), established in 2013 and whose objective is to increase the productivity, competitiveness and growth in North America. It also they highlighted that the bilateral trade ties will be strengthened by the opportunities offered by the Agreement of Trans-Pacific Partnership (TPP, for its acronym in English), which Mexico and the United States are founders.
Since the signing of the NAFTA in 1993, the sales from Texas to Mexico increased fivefold, amounting to 103 billion dollars in 2014, that is to say, 36% of the state's exports abroad. Today, Mexico is the main trade partner of Texas, with annual trade of almost 193 billion dollars.