Mexico one of the main competitors in nearshoring
According to the Mexican Business Council for Foreign Trade, Investment, and Technology, Southeast Asia and Eastern Europe are Mexico’s biggest competitors in nearshoring.
«In Mexico we find that we are now the star in nearshoring and relocation of companies, but there are other actors that are participating in nearshoring,» said the business representative, added Humberto Esqueda, Chairman of the Mexico-South Korea Bilateral Committee of the Mexican Business Council for Foreign Trade, Investment and Technology.
He said at the Mexico/Korea Economic Forum 2023 that other Southeast Asian and Eastern European nations are crucial in luring investments and businesses that are leaving Asia as a base of operation.
He claimed that Southeast Asia and Eastern Europe compete with Mexico in luring businesses that are relocating their Asian operations to a nation nearer to high-consumption regions.
The year 2023, he continued, presents itself as a unique circumstance and marks a fresh start in many ways because we have exited the Covid-19 pandemic.
