Business leaders from the U.S. and Mexico met in Mexico City on Wednesday to discuss ways to improve the economic relationship between the two countries.
Thomas J. Donohue, the president and CEO of the U.S. Chamber of Commerce, along with John Rice, the chairman of the Chamber’s U.S.-Mexico Leadership Initiative and vice chairman of GE, led a delegation of private-sector business executives to the meeting.
Over the course of two days, participants at the meeting discussed opportunities for economic collaboration between the U.S. and Mexico, including in infrastructure, energy, regulatory cooperation, education, workforce development and customs modernization.
“By working together, we can help build a future of shared prosperity, security, and efficiency between the United States and Mexico – a goal worthy of our very best efforts,” Donohue said. “Doing so will allow us to further integrate the North American market and make it more competitive in the global economy.”
The meetings are part of the U.S.-Mexico CEO Dialogue established by Presidents Obama and Enrique Pena Nieto when they announced a dialogue earlier this year. The findings and recommendations announced during the discussions are designed to inform lawmakers on business and economic issues.
“Once seen as a low cost manufacturing site, Mexico today is a dynamic market for U.S. goods and services, a growing home for joint innovation, and a partner to American companies around the world,” Rice said.
The U.S. Chamber and Mexico’s Consejo Coordinador Empresarial signed a memorandum of understanding at the start of the meetings to formalize the partnership between the two groups.
“The signing of this Memorandum of Understanding is a symbol of a new era in the relationship between Mexico and the United States, which we must now strengthen with concrete actions and agreements,” CCE President Gerardo Gutiérrez Candiani said.
Last year, the U.S. and Mexico traded nearly $500 billion in goods—the equivalent of $1.35 billion of commerce, which the U.S. Chamber said supports six million jobs across the country.