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US-Mexico economic dialogue and mid-year review

MEXICO / USA – The US and Mexican High-Level Economic Dialogue (HLED) co-chairs met virtually on April 18, 2023, to review key accomplishments since September 12, 2022 HLED ministerial as outlined below. They also discussed priority initiatives and stakeholder engagements to plan for the HLED ministerial in fall 2023.

The US delegation was led by deputy United States Trade Representative Jayme White, undersecretary of commerce for international trade Marisa Lago, and undersecretary of state for economic growth, energy, and the environment Jose W. Fernandez. The Mexican delegation was led by undersecretary of foreign trade Alejandro Encinas, undersecretary of finance and public credit Gabriel Yorio, and chief officer for North America Roberto Velasco.

The HLED advances strategic economic and commercial priorities for Mexico and the United States to foster economic development and growth, promote job creation, enhance competitiveness, and reduce poverty and inequality in both countries. HLED collaboration centers around four thematic pillars:

  • Pillar I – Building Back Together – The United States and Mexico are working to improve the regional business environment, deploy advanced technologies, strengthen the resilience of US-Mexico supply chains, and promote lawful trade and travel;
  • Pillar II – Promoting Sustainable Economic and Social Development in southern Mexico and Central America – The United States and Mexico are cooperating to improve livelihoods through the creation of jobs and opportunities in northern Central America and southern Mexico;
  • Pillar III – Securing the Tools for Future Prosperity – The United States and Mexico are working to support regulatory compatibility and risk mitigation in the information and communication technologies, networks, cybersecurity, telecom, and infrastructure sectors; and
  • Pillar IV – Investing in Our People – The United States and Mexico are working to promote initiatives that invest in entrepreneurs, small and medium-sized enterprises, and that enhance access to economic opportunities for women, youth, indigenous persons, and members of the LGBTQI+ community.

The United States and Mexican governments consulted with civil society, the private sector, academia, labor, and other non-governmental organizations through an open, inclusive dialogue that values diverse perspectives and transparency. Our governments implemented several stakeholder recommendations:

  • Mexico created an Investor’s Single Window, an informational resource for companies looking to invest in Mexico;
  • promoted the National Institute of Standards and Technology (NIST) Cybersecurity Framework (NCF) in Mexico through the sharing of NCF materials with the Mexican government and:
  • increased cybersecurity capacity and coordination by promoting the adoption of international practices and consensus-based standards.

In addition, the HLED has several ongoing projects based on stakeholder recommendations such as supply chain coordination in the semiconductor and ICT ecosystem; increased digitization of procedures at the border; coordination on 5G development and ICT connectivity; and strategic collaboration with universities; and enhanced workforce development. The Mexican Secretariat of Foreign Relations signed a memorandum of understanding with Arizona State University to pave the way for an alliance of U.S. and Mexican universities along with microelectronics manufacturers to train workers and build semiconductor production in North America.

Both governments have created websites containing information regarding the HLED while also providing a mechanism for stakeholders to offer input on a regular basis at gob.mx/dean and trade.gov/HLED.

The US and Mexican governments will reconvene at the cabinet level for the HLED annual meeting in the United States in fall 2023.

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