Mr Poiré expressed his view that the last decade has shown how investors feel more change in Mexico, and how the country is more willing to gain a bigger share of the world market by setting an example of high standard production and efficiency across all sectors of its economy.
For Mr Poiré, there are many reasons for Mexico’s success. One is that in the last 10 years governments have shown remarkable fiscal discipline and have been able to withstand an economic crash. Mexico has done a great effort in withstanding counter-cycliclal political decisions that lead to more public spending. The financial public deficit of .7% in 2011 has been reduced to .4%, and all this in order to protect poorer families. It is a remarkable thing that a country can uplift its economic situation without having poorer families to pay the price for it.
Furthemore, Mr Poiré points out one fact that is essential for Mexico, and that is that Mexico has shown high levels of competitiveness and growth over the last few years. In the Doing Business Index, which showed that only during this administration, Mexico was able to improve its position - surpassing 20 countries in the same index. Mexico is above the BRIC economies, and Mexico’s competitiveness has attracted investment in infrastructure: more than 19,683km streets, highways and roads have been constructed. This is a topic of great interest as it requires much public investment, and it also requires investment in education and social services which then contribute to the human capital of Mexico. Since the 90s, Mexico has experienced significant growth after singing the Free Trade Agreements, especially due to its low labour costs.
In the automotive industry, Mr Poiré points out that foreign investment (FDI) is clearly accelerating. Due to Mexico’s geographical disposition – having the United States at its borders - Mexico has become an attractive country to invest in: the combination of macroeconomic stability, growth and competitiveness have opened Mexico to new markets and have made it an attractive country in which to invest. There is a wide range of credits for micro, small and medium entreprises with great emphasis on development.
Mexico is transforming itself from the judicial point of view and from its administrative side, reforming the state and giving the people more tools to fight the injustices of the previous system. Equally, the security forces have managed to regain the trust of more than 45% of the people, giving more trust and confidence to the Mexican citizen. Furthermore, the energy system of our country was uplifted , having found oil in the vastness of our sea.
Equally, Mexico is looking to expand its existing relationships with other countries. The UK is a good example of this is. Exports to the UK have risen to 200% in the last decade, showing the significant improvement of the Mexican economy. Mexico sets the table for investment to generate their business with possible expansion to other markets, e.g. the United States. The exchange in investment and commerce is key for both sides. This, accompanied by a stronger intercultural exchange provided by a normative education system will undoubtedly make this economy stronger. The bond between Mexico and Great Britain must grow as well as the link with other European countries.
“Mexico’s investment in competitiveness and the rule of law is unprecedented in the region and the relationship with Great Britain is strategic and is about to witness massive change for the good of both countries,” Mr Poiré said.
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