Tech on Tec

Mexico has undergone a significant economic transition in the last decade, becoming a much more open economy. According to World Bank Atlas 2002, Mexico is the world’s ninth largest economy, the eighth largest exporter of goods and services with maquiladoras activity included, and the fourth largest oil producer.
Mexico has an intensive trade activity and has been committed to diversify its commercial openness. WTO  2000 shows that Mexico was ranked 8th leading exporter and 7th leading importer.

Thanks to the trade liberalization’s measures adopted by Mexico, which had contributed to the economic development, today Mexico is the first trade country in Latinoamerica, with 46% of the exports from the region and 47% of its imports.

In 2001, the Mexico’s foreign trade exceeded the 326,000 million dollars. The exports registered in the last year of 159,000 million dollars represent the triple of the amount exported in 1993. The market polices together with the network of the Free Trade Area have done from Mexico one of the most attractive countries for the national investment. Since the NAFTA was created in 1994, Mexico has received more than 112,000 million dollars in Foreign Direct Investment. It represents an annual average of almost 14,000 million dollars, more than three times the annual amount received during the six years previous to the NAFTA. The liberalization of the commerce also has helped Mexico to diversify the base of its exports. At the beginning of the decade of 1980 the oil and products related to petroleum constituted most of the exports. Today almost of the 90 percent of the external sales consist of manufactured products. 

The benefits of the liberalization of the commerce in Mexico have been propagated by all the country. Previously our potential of export was limited to the countries enrolled in the Free Trade Area that involves  Mexico, the NAFTA. Today,
Mexico has expanded its trade agreements with many other countries like the agreement with the EFTA, obtaining greatest benefits .

In my opinion, it’s important to know that although Mexico GDP has risen 70 billion dollars thanks to NAFTA , has not yet risen the standard of living of the population neither the  hourly wages. However with the agreement established with the EFTA, Mexico has been more benefited, I would said in an indirectly way, it means in the Foreign Direct Investment (FDI) because since the EU has become the Mexico’s second main trading partner, it also has become one of the most important contributor to the FDI, which means more works opportunities for the Mexican persons and a better standard of live.