Manufacturing In Mexico Joins Near Shore Forces With Its Neighbors
Manufacturing In Mexico is set to gain yet another boost as four Latin countries move to form an economic bloc. Mexico, Columbia, Peru, and Chile announced recently a plan to accelerate development by creating an economic pact that furthers each country’s manufacturing goals. According to Peruvian President, Alan Garcia, the group’s intention is to deepen existing ties through “free movement of capital, services, products and people” in an effort to maximize advantages and grow more effectively. As the 12thlargest economy in the world, any manufacturer in Mexico will not only gain from the streamlined process but so, too, will Columbia, Peru, and Chile.
According to Peru’s Garcia, to some degree the new union supersedes CAN (the Andean Community of Nations) in effectiveness, as the region continues to modernize by accessing rapid technological transfer and global financial and investment sources. Additionally, manufacturing in Mexico will undoubtedly have a catalytic affect on not only its own industries, but will likely stimulate Columbia’s economic profile by their joining Peru and Chile’s integration into one stock market. President Garcia also encourages Columbia to join APEC, Asia-Pacific Economic Cooperation.