Mexico Praised for Economic Growth Ahead of G20 Summit and the World Economic Forum Latin America [2]
The Americas Society and the Council of the Americas (AS/COA) held the “Mexico and the G20: Rethinking Global Economic Balance” conference on March 13 in Mexico City. In partnership with ProMexico, the Mexican Government’s institution in charge of strengthening Mexico’s participation in the international economy, the conference focused on Mexico’s turning point as an international player as the country prepares for the upcoming G20 Summit [3] and the World Economic Forum Latin America.
The United States Treasury Department’s Deputy Assistant Secretary for the Western Hemisphere Leo Martínez-Díaz [4] was the keynote speaker. Under the session “North America and the Prospects for Global Economic Recovery”, Martínez-Díaz highlighted how since the implementation of the North-American Free Trade Agreement (NAFTA) in 1994, “the value of the US-Mexico bilateral trade has increased by 350 percent, U.S. investment in Mexico has increased 430 percent, and Mexican direct investment in the U.S. has increased by 500 percent,” according to a AS/COA blog.
Among top public and private officials, Martínez-Díaz also publicly praised Mexico on how the country has in many ways led by example into becoming a global economy due to its openness to free trade, fiscal stability, and being a pioneer in the area of conditional cash transfers. He also said when U.S. and Mexican officials meet now they discuss global issues rather than just bilateral ties.