Mexican wave of interest from Black Country firms

A VISIT to Mexico by a member of the Black Country UK Trade & Investment (UKTI) team has highlighted the need to encourage local companies to explore the opportunities that are available.

UKTI’s Marion Doherty visited Monterrey with a number of local companies. The visit was based around the Expomanufactura Exhibition, the biggest advanced manufacturing show in Mexico. 
 
She said: “Initially companies hesitated to commit to this visit and made us aware of the preconception in the business world that Mexico is a high risk and potentially dangerous country to visit and therefore do business in.

“The key to encouraging our companies to develop this market is by dispelling the preconceived ideas that they have and increase the awareness of the accessibility of this country and the assistance that is available to help them in developing relationships to win business.”
 
By 2020 Mexico is expected to become the largest economy in Latin American and the world’s seventh largest economy surpassing Russia, Brazil and India.
Similarly, according to a report published by HSBC Bank, Mexico’s economy is expected to grow on average between 3% and 5% over the next few decades.
 
These positive trends and developments have been attracting many foreign investors to Mexico. Automotive companies have been leading the way; Nissan, General Motors, Audi, Fiat, Ford, Honda and BMW have all announced plans for new manufacturing facilities or the expansion of existing operations in Mexico.

Andrew Morris, director consulate Monterrey, said: “Mexico has become a globally important manufacturing nation mostly due to its tariff free access to the USA. Investment in sectors like automotive, aerospace and consumer goods continues to grow, providing many opportunities for UK exporters of manufacturing technologies and advanced machinery and equipment of all types.”
           
Chris Harper of Bridgnorth-based Filtermist International was on the trip. He said: “The trade mission to Mexico could not have come at better time for Filtermist international – Mexico was on the top of our priority list. 

“Monterrey is a great city to do business in, the people are very friendly, the food is fantastic and the ease of doing business makes forming relationships simple and effortless.”