Mexico must define key sectors to leverage nearshoring, USMCA, experts say at EFE's forum

Espinosa emphasized that, despite the ongoing trade dispute between the US and China, the goal of the USMCA should not solely be to replace supply chains from the Asian nation. Instead, he argued, all value chains where the three countries can be globally competitive should be evaluated.
Meanwhile, Ulises Fernández, secretary of Innovation and Business Development for the state government of Chihuahua, remarked that while nearshoring is not a new phenomenon, a new wave of relocations is gaining momentum.

For this reason, he suggested that governments need to assess how to strengthen the productive infrastructure of various industrial sectors to enhance them and become prime destinations for new foreign investment. "We must ensure that we have the necessary talent development, the infrastructure, to support the growth and development of industry, and above all, create conditions not only to encourage investment but also to ensure that the local ecosystem participates — not merely as a provider of talent, but as an integrated entrepreneurial ecosystem involved in more complex processes," he said. Finally, Tony Lin, head of Taiwan's Industrial Technology Research Institute (ITRI), stated that Mexico has a significant opportunity to capitalize on nearshoring due to the USMCA. "Many companies, including Taiwanese ones, need to make their investments. They need to operate in Mexico because, of course, trade in Canada and the US is too costly, so their only option is Mexico," he said.

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