The clouds mentioned in the title are those that hang over Italian politics and the economy and Mexico's three major problems: drug trafficking, corruption and labor exploitation. But apart from the contradictions of a booming economy, Mexico is no longer "the sad face of America", as Jannacci sang in his beautiful song many years ago. It is in fact there second largest economy in Latin America, grows at rates similar to those of newly industrialized countries, is one of the most open economies in the world (in addition to NAFTA there are 40 other free trade agreements signed by the country), has a new industrialization much more technological than any other country in the South (the old model of the “makeup” is now almost a memory), has one very large middle and rich class and attractive for our products (everyone knows that Carlos Slim, the richest man in the world, is Mexican). In short, it is the ideal bridgehead to look at the entire American continent from there.
This is demonstrated by the interest it has aroused Italian mission of 13 and 14 January in Mexico, led by the Prime Minister Read, which was attended by the presidents and managing directors of Eni, Enel, Finmeccanica and many other Italian companies interested in the development of bilateral exchanges with the country.
The president of also participated in the Mexico Mission SACEJohn Castellaneta. SACE is the only European export credit company to have opened an office in Mexico. The office acts as a hub for Central America and the Caribbean. The wallet of insured Italian exports and investments in Mexico amounted to € 1,1 billion, up 93% compared to the end of 2012. Mexico is the eighth foreign country for SACE by exposure and the second in Latin America, after Brazil. The main operating sectors are the chemical and petrochemical (49% of exposure), Oil & Gas (27%) and metallurgical (15%).
Our insurance is studying new operations for 500 million euro, with the growing prominence of SMEs, which in 2013 accounted for 70% of the risks underwritten. As can be seen in the country file recently updated by SACE (attached), the opening towards the country by our insurance is maximum.
On the occasion of the Mission SACE has finalized a collaboration agreement with the Mexican development bank Bancomext (National Bank of Foreign Trade). Bancomext has a solid financial structure and acts as the "financial arm" of the federal government for foreign trade. It supports both foreign investment by Mexican companies and foreign investment in Mexico. The agreement is intended to expand trade and investment opportunities between Italy and Mexico, thanks to a more intense exchange of information between the two companies specialized in supporting internationalization, as well as stronger cooperation on both current and future projects potentials. The initiative joins the collaboration agreement on training & advisory recently finalized between SACE and Bancomext. “This new agreement is another important step forward in building a collaborative relationship with one of our key stakeholders on the Mexican market, where we have been operating profitably for years now with an excellent track record of completed operations and medium-long term business prospects. positive term,” said Castellaneta.
According to SACE, forecasts and opportunities for Italian exports are very interesting. Italy is already Mexico's second European trading partner, after Germany, and the eighth in the world. Thanks to a marked socio-economic dynamism, Mexico is preparing to offer growing opportunities to Italy: not only as hub productive, but also as a destination with high potential for our exports which, according to SACE forecasts, will register a average annual growth of 6,8% over the next four years, totaling an average of 4,6 billion euros in annual exports.
The investment policy aimed at expanding industrial production capacity will open up interesting prospects for exporters of intermediate goods, especially in the chemical sector. The enhancement of the role of hub trade will favor the importation of means of transport from Italy, while the expected liberalization of the energy market will offer important opportunities to companies active in the exploitation of deposits off-shore and in the development of renewable energies.
Attachments: Mexico SP SACE 0114.pdf
