Tijuana, Baja California, Mexico (PRWEB) November 04, 2013
Top companies who attended the event were educated on the benefits of near-sourcing their production, manufacturing and other business operations to Mexico. LA Biz partnered with HSBC to assemble a panel of industry experts with a goal to educate and give local businesses the personal connections needed to stay apprised of market trends and grow the value of their enterprise.
The event hosts cite the rising labor costs in China and escalating logistics costs from East to West, as the major drivers behind US firms looking closer to home for production and manufacturing. Mexico is presented as an attractive destination due to its wide network of Free Trade Agreements, its competitive labor costs now lower than China, and its strategic geographic proximity to major North American markets. According to HSBC’s Economic & Equity Strategy Mexico Handbook, Mexico is the 12th largest economy in the world and the second largest in Latin America in terms of GDP and is expected to be the eighth largest in the world in 2050.
“Firms are beginning to see Mexico as a top destination for new or expanded manufacturing operations. As a shelter services provider for firms doing business in Mexico, a crucial prong of CPI’s outreach must be to educate and inform. Participating in the panel discussion was a perfect forum for local business owners in Los Angeles to understand Mexico’s capabilities and the benefits of its production and logistics cost savings,” said panelist, Enrique Esparza, Jr.
Co-Production International’s President, Enrique Esparza Jr., was joined on the panel by Jose Reyes, Head of CMB Northwest Region for HSBC Bank Mexico, and Antonio Peña, a Shareholder from the global law firm Greenberg Traurig LLP. The event was moderated by Steven T. Brennan, a Senior Vice President and Regional Commerce Executive for HSBC Bank USA, N.A. The panelists experience and qualifications made for a perfect trifecta offering a well-balanced understanding of the benefits, as well as crucial considerations, for near-sourcing production and manufacturing in Mexico.
The panelists highlighted the present economic situation and emerging trends, the Mexican legal environment and attractiveness for foreign investment, insights into the automotive, manufacturing, aerospace, information technology; the benefits of regional supply chains, and Mexico’s fastest growing trade corridors. Attendees gained insight about Mexico’s dynamic economic development policies, new government reforms, and Mexico’s highly-skilled and English speaking workforce. The panel of experts also discussed today’s business opportunities in Mexico, how to navigate the legalities of entering the Mexican market, and the benefits of near-sourcing operations. At the conclusion of the event, attendees were able to network with Senior Level Executives also interested in expanding in Mexico.
Co-Production International (CPI) is an specialists in establishing manufacturing operations in Mexico, located in San Diego, CA. CPI offers successful business expansion solutions, shelter company services, day-to-day administrative duties, site selection, and the complete set-up of your operation in Mexico. For more information, or if you are interested in a cost analysis for expanding your operations to Mexico, visit http://www.co-production.net or call (858) 427–8514.
For a detailed overview of the aerospace and defense manufacturing industry in Mexico, please contact denissem(at)co-production(dot)net for a free download of our most recent study "2013 Aerospace and Defense Industry in Mexico Overview".