Economic Complementation Agreement No. 55

- December 07, 2020

The agreement takes into account Mexico`s export potential and the development of the Brazilian automotive market in 2014; It recorded annual declines in production and exports of about 15.3% and 40.9%, a trend that accelerated in the first quarter of 2015. The World Competitiveness Yearbook, WCY, analyzes the top 59 economies based on four factors: economic performance, state efficiency, efficiency for business development and infrastructure development. This e-newsletter represents the efforts of the economic secretariat to regularly disseminate interesting and relevant information on foreign trade, such as official provisions. B (modifications and publications of decrees, agreements, ordinances, etc.). Contains a number of official provisions on foreign trade published in the Official Journal of the Federation (DOF) by the agencies and bodies of the federal public administration during a calendar month, such as. B agreements, ordinances, manuals, annexes, decrees, clarifications, decisions, rules and opinions. To this end, it is pushing Mexico`s economic integration into strategic economic blocs around the world in order to increase the country`s competitiveness. Mexico`s economic secretariat promotes job creation, economic growth and sustainable development through partnership with businesses, industry and trade associations, universities and communities with multiple missions in the fields of trade, economic development, technology, entrepreneurship and business development, the internal market and statistical research and analysis. The objective of foreign direct investment is to create long-term and sustainable interests of foreign entrepreneurs in the recipient country for economic purposes. The importance of direct resources lies in the fact that they play an important catalyst for development. In this sense, foreign direct investment has a significant positive impact on a country`s productivity and competitiveness, creating jobs, increasing savings and foreign exchange reserves, promoting competition and promoting the transfer of new technologies and exports.

The Directorate General for Foreign Investment (DGIE, Spanish) is the administrative unit of the economic secretariat responsible for enforcing the law on foreign investment and, in particular, the management and operation of the National Register of Foreign Investment (RNIE, in Spanish), the production and publication of statistics on inflows and as the technical secretariat of the National Commission for Foreign Investment (CNIE). ( ) in Spanish). The DGIE also represents Mexico in international investment, contributes to investment promotion, disseminates information and studies on the country`s investment climate and encourages the adoption of public policies where appropriate. Information on investment promotion and attraction activities is available from ProMéxico, a government agency responsible for coordinating strategies to strengthen Mexico`s participation in the global economy. The automotive industry has become one of the key elements of the economic development of the Latin American region, especially for Mexico and Brazil, which are considered the largest economies in terms of population and gross domestic product. The Economic Complementarity Agreement 55 has contributed significantly to the development of automotive production in these countries.

Discussion