The Treaty between Mexico, the United States and Canada (T-MEC) celebrates two years this Friday as the engine of the Mexican economy, which takes advantage of exports to North America to stay on its feet after the covid-19 crisis.

Between January and April 2022, Mexico increased by 17% year-on-year the profits obtained from the trade of its goods, products and services abroad with a sum of 179,532 million dollars, according to figures from the Ministry of Economy.

This is 26.628 million dollars more than in the same period of 2021 and 36% more than in 2020, or 47.984 million dollars more.

Of this amount, 151,357 million dollars were the product of the business relationships established under the T-MEC, an amount equivalent to 84% of the total of Mexico's exports to the world.

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The T-MEC, in force since July 1, 2020, has served as a buffer for Mexico, since regionalization, which the pandemic forced, strengthened trilateral ties in North America, mainly with the United States, said Juan Carlos Barrón, researcher at the Center for Research on North America (CISAN).

With these figures, the United States remains Mexico's main trading partner with a trade of 145,888 million dollars in the first quarter of the year, which represents 81.3% of total Mexican foreign trade, followed by Canada, which imported products Mexicans with a value of 5,159 million dollars.

Barrón considered that the health crisis and the war between Ukraine and Russia have favored North America, since they highlighted opportunities within "nearshoring" (relocation of value chains), opening the way for Mexican manufactures in the United States and Canada.

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Foreign direct investment (FDI) follows the same inertia, so it is not surprising that US businessmen are the ones that invest the most in the country since the now-defunct North American Free Trade Agreement (NAFTA), which emerged in 1991 , assured the CISAN expert

According to the Ministry of Economy, the largest FDI between January and March 2022 was injected from the United States with investments of 7,602 million dollars, while the third investor was Canada with 1,374 million dollars.

Controversies in the labor, energy and automotive issues will put to the test the dispute resolution mechanisms that are unique in the world and that were presented as something innovative.

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