42 Brazilian companies eye major investments in Mexico amid US trade concerns

Facing uncertainty successful their country’s commercialized narration with the United States, a increasing fig of Brazilian companies are taking a superior look astatine investing successful Mexico, the president of the Brazil-Mexico Chamber (Bramexcam), Liborio Rauber, said connected Thursday. 

According to Rauber, much than 3 twelve Brazilian companies basal acceptable to put successful the improvement of factories, accumulation lines, information centers and organisation centers successful large Mexican cities similar Monterrey, Saltillo, Querétaro, Tijuana, Guadalajara, Ciudad Juárez and Mexico City.

Mexico and Brazil oculus expanded commercialized woody up of August meeting

“Today, astatine the Chamber, we are presenting 42 projects from Brazil from companies that privation to unfastened markets oregon marque investments present successful Mexico,” Rauber said. 

Currently, 48 Mexican companies are established successful Brazil, though that fig pales successful examination to the 716 Brazilian companies operating successful Mexico. Mexican brands with operations successful Brazil see the automotive Numak, the nutrient institution Bimbo and the telecommunications steadfast América Móvil. Rauber pointed retired that astir 19.7% of net usage by Brazilians goes done Claro, a institution owned by América Móvil.

Also of note, the Mexican convenience store concatenation Oxxo has opened 500 stores crossed Brazil successful conscionable 2 years, though determination are seemingly a fewer glitches. “You cognize the quality betwixt Oxxo successful Brazil and Oxxo successful Mexico?” joked Rauber. “There [in Mexico], the 2nd currency registry really works and they person change.”

Rauber’s announcement of the 42 funny companies followed a telephone betwixt Mexico’s President Claudia Sheinbaum and her Brazilian counterpart Luiz Inácio Lula da Silva (Lula) connected Wednesday. The two leaders agreed that a delegation led by Brazilian Vice President Geraldo Alckmin would sojourn Mexico connected Aug. 27 and 28. 

“We followed up connected the statement to invited successful Mexico authorities and concern radical from Brazil, with the purpose of deepening our collaboration connected assorted issues,” Sheinbaum wrote connected societal media.

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Meanwhile, Lula said connected societal media that the brace had “discussed the enlargement of the Brazil-Mexico commercialized agreement, highlighting the imaginable of the pharmaceutical, agricultural, ethanol, biodiesel, aerospace, innovation and acquisition sectors arsenic strategical areas successful our bilateral relationship.”

Bramexcam represents companies crossed a wide scope of sectors, including the automotive, aerospace, pharmaceutical, chemic and agribusiness industries.  

According to the concern chamber, immoderate of the main exports betwixt the 2 countries include:

Products exported from Brazil to Mexico:

• Soybeans – US $547 million
• Automobiles – $477 million
• Steel – $453 million
• Engines – $413 million
• Lumber – $171 million

 Products exported from Mexico to Brazil: 

• Auto parts – $628 million
• Automobiles – $403 million
• Chemicals – $233 million
• Electronics – $192 million
• Computers – $188 million

With reports from Forbes