The other side of the port gate
In the city of Lázaro Cárdenas on Mexico’s Pacific coast, a charity is providing much-needed education and nutrition to disadvantaged children. With the support of APM Terminals, which has recently opened a new port there, it is providing a foundation for their future lives.
Doubts about the future of the North American Free Trade Agreement (NAFTA) are making it hard to predict how Mexican trade will fare in 2017.
For now, A.P. Moller - Maersk forecasts imports growth of around 7% and exports at about 3%, following robust finish to 2016.
If producers and manufacturers look to new markets, however, Mexico can still maintain its ranking in global trade and keep growing.
Exploring new markets
“Diversification is key. It is necessary to dig deeper than ever before. Mexican producers have an opportunity to explore new markets as there are numerous elements in their favour,” explains Mario Veraldo, Managing Director for Maersk Line in Mexico and Middle America.
Mexico has bilateral accords with about 50 countries, a weak currency, a strong producer and finished goods manufacturing base that allows the country to open new markets and reduce the country’s trade reliance on the US.
“Diversification is a sound business paradigm that allows companies to expand their client bases, maximize opportunities, boost margins and spur revenue growth as well as jobs by having the flexibility to change markets quickly. Global multinationals use this model successfully,” Veraldo adds.