Mexico is the second-largest export market for U.S.-produced goods ($267 billion in 2015), as well as for goods produced in Wisconsin ($2.9 billion in 2015). Trade pathways between the U.S. and Mexico are well-traveled; a long history, geographic proximity and the North American Free Trade Agreement (NAFTA) also make Mexico a relatively easy market to enter for companies that are new to exporting.
In June 2017, Wisconsin Lt. Governor Rebecca Kleefisch and the Wisconsin Economic Development Corporation (WEDC) will be leading a global trade mission to Mexico. Wisconsin companies, whether new to exporting or looking to expand their exports into Mexico, are invited to participate in this program, which will travel to Mexico City, the largest city in Mexico, and to Monterrey, which is Mexico’s third-largest city by population
and second-largest in terms of its contribution to GDP, and has a high concentration of manufacturing facilities aligned with Wisconsin’s key industry sectors.
In each city, participants will be scheduled for one-on-one meetings with potential partners in the market. These partners are hand-picked for each participating company. Each participant in the global trade mission will also receive a Mexico market assessment specific to his or her company, detailing considerations they should keep in mind when introducing their product or service into the market. WEDC has eyes and ears on the ground in Mexico, in the form of Wisconsin’s authorized trade representatives—thus making it easier for Wisconsin companies to find local partners they can trust, and taking some of the guesswork out of launching in a new market. With all your appointments arranged for you, you can focus on business rather than logistics and scheduling.
Since Mexico is one of the top export markets for U.S. companies across all sectors, Wisconsin companies from a broad range of sectors are encouraged to attend this trade venture. Leading export categories from Wisconsin to Mexico include industrial machinery, electrical machinery, vehicles and parts, plastics, and medical and scientific instruments. U.S. products are already well represented in the market, and are perceived to be a good value for the price.
Mexico City is one of the world’s largest cities, with 21 million people in the greater metropolitan area. A key economic driver for the country, the metropolitan area is home to many corporations’ worldwide or regional headquarters, and in particular is a hub for aerospace manufacturing. Wisconsin companies’ meetings in the area may take place in nearby cities, such as Puebla, Toluca and Queretaro.
Monterrey, in the state of Nuevo Leon in northeastern Mexico, has a population of 4.5 million in the greater metropolitan area. Major industries include automotive and food and beverage. Northeastern Mexico is a major agricultural region, and is also the location of many maquiladora facilities of U.S. manufacturers.
According to the Woodrow Wilson Center’s Mexico Institute, for every dollar of goods the U.S. imports from Mexico, it is estimated that 40 cents comes from U.S.-made components, and nearly 5 million U.S. jobs depend on trade with Mexico. Many Wisconsin companies may already be exporting their products indirectly to Mexico without knowing it, if they are selling parts to factories in the southwestern U.S. whose products are then exported after assembly. By taking part in this global trade mission, companies can tap the existing demand for their products to forge new relationships that lead to growing export sales with new customers and sectors. In addition to learning about market conditions and meeting local partners, the trade mission offers companies the chance to learn from one another, as the group will include both experienced exporters and companies that are new to exporting.
Companies in all Wisconsin’s sectors of strength—advanced manufacturing; food and beverage processing; bioscience and medical devices; energy, power and control; water technology; and aerospace—are encouraged to participate in this trade mission.