Foreign Ministry promotes investment, trade and development in Latin America

Foreign Ministry promotes investment, trade and development in Latin America

• The meeting of Latin American investment promotion agencies was attended by representatives from Argentina, Brazil, Chile, Colombia, Costa Rica, El Salvador, Honduras, Nicaragua, Panama, Peru, Uruguay and Venezuela.

The Foreign Ministry's Directorate General for Global Economic Promotion, in coordination with the Inter-American Development Bank (IDB), organized a meeting of Latin American investment promotion agencies (IPAs), with the aim of exchanging good institutional practices and tools for promoting investment to strengthen regional economic integration.

In her remarks, Foreign Secretary Alicia Bárcena highlighted the advantages of strengthening the IPAs to further the region's economic development and promote joint competitiveness in promising sectors such as energy, automotive, manufacturing, pharmaceuticals and agri-food.

The Secretary emphasized the importance of creating opportunity zones for companies that are being relocated. "I believe that Mexico can be an engine [...] of development. We can leverage the advantages we have in Latin America. This meeting, where we can recreate, rebuild and strengthen this network of promotion, investment and trade agencies, can be a first step towards addressing the challenge of adapting to the great changes we face in our region and in the world," she said.

Latin America offers many investment opportunities for foreign companies seeking to expand or establish themselves in the region. In particular, Latin American countries stand out for their strong infrastructure, workforce, investment policies and incentives.

During the meeting, the participants highlighted the role of the IPAs in the global economic restructuring and the relocation of value chains, and their promotion of the investment opportunities and advantages in Latin America.

The region also faces challenges in adapting its investment policies to the new economic configurations, and the IPAs pledged to participate in an open and ongoing dialogue to ensure that the relocation of supply chains guarantees environmental, social and economic sustainability.

The Government of Mexico reaffirms its commitment to continue promoting economic development in Latin America.