For Immediate Release: May 9, 2013
Contact: Lorri Crowley (202) 482-3809
Commerce Official Highlights President Obama's U.S. Mexico Trade Agenda
LAS VEGAS – Michael Camuñez, Assistant Secretary for Market Access and Compliance at the Department of Commerce delivered keynote remarks at the 2013 INSIGHT International Trade and Tourism Conference in Las Vegas today. As a follow up to President Obama’s visit to Mexico Camuñez addressed a group of Latino business leaders assembled by the Las Vegas Latin Chamber of Commerce where he highlighted opportunities for U.S. small businesses to export to Mexico and Latin America.
Camuñez was part of President Obama’s official delegation to Mexico and participated in The President’s announcement of the formation of a new High Level Economic Dialogue (“HLED”), a cabinet-level mechanism that will be co-led on the U.S. side by the Department of Commerce. The HLED will help to strengthen collaboration between the U.S. and Mexico to improve competitiveness, promote innovation and trade, and enhance productivity and mutual economic growth.
“President Obama’s visit highlighted the strategic and economic partnership our two countries enjoy. We are excited to work closely with the Mexican government and the business community to implement the new HLED in a way that will strengthen our economies, promote job creation in both nations, and improve our mutual prosperity,” Camuñez said.
During the mission Camuñez traveled to the State of Queretaro, where he met with Governor José Eduardo Calzada Rovirosa and members of his cabinet as well as with a range of U.S. companies. Queretaro is one of the most dynamic and fastest growing states in Mexico, having successfully established significant innovation clusters in the aerospace and automotive sectors that are deeply integrated with the U.S. economy.
“I’m pleased to visit Queretaro because in so many ways the innovation that is taking place here best reflects the new era of economic cooperation we want to promote between our countries. The state has shown enormous leadership in developing innovative companies and a growing economy that strengthens both Mexico and the United States,” Camuñez stated. “In many important respects, Queretaro embodies the new face of Mexico that President Obama referred to during his visit.”
Throughout Mexico there are a number of U.S. companies already doing business and partnering with Mexican organizations. For instance, Ohio-based Dana Corporation, which operates an advanced manufacturing automotive parts facility that imports almost 80 percent of its content from the United States. Camuñez visited 3M where he emphasized the integrated nature of the U.S. and Mexican markets, the extensive supply chain connectivity, and the high degree of co-production that are exemplified in 3M’s North American commercial operations.
In preparation of the first High Level Economic Dialogue, Camuñez met with senior officials in the Ministry of the Economy and the Ministry of Foreign Relations to kick-start the planning for the development of the first meeting.
Mexico is the United States’ third largest trading partner. In 2012, U.S. exports to Mexico totaled more than $216 billion dollars. In 2011, U.S. Foreign Direct Investment in Mexico totaled more than $91 billion dollars.
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