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The HLED was held on September 9, 2021, in accordance to planned, in which both nations concurred in new agreements for the economic, social and commercial development for both nations.
Key Points
The High Level Economic Dialogue (HLED) is a bilateral agreement established in 2013 between the United States and Mexico, which prioritizes economic, social and commercial relations, but was put on hold since 2016.
The HLED was held on September 9, 2021, in accordance to planned, in which both nations concurred in new agreements for the economic, social and commercial development for both nations.
Overview
The HLED is a bilateral agreement established in 2013 between the United States and Mexico. This agreement focuses on the development and improvement of economic, social and commercial relations between the US and Mexico, impulsing regional economic growth, creation of new jobs, with the goals of reducing social inequality and poverty in all its dimensions.
Following the latest HLED, the two countries agreed to work together on 4 main pillars:
1. Building Back Together
Both the United States and Mexico will focus on rebuilding the economic, social, and commercial relationship between both countries. They agreed that in order to grow and restructure their trade relationship, they must first improve the regional business environment and strengthen supply chains. As a result, they established the following priorities:
Improving the Regional Business Environment:
Facilitate US-Mexico trade, increase competitiveness, and apply a 21st Century Border Management Initiative.
Improve access to medical devices for better public health services.
Restructure marine port infrastructure, improve cross-border trade flow, and innovate on new technologies and policies for commercial trade
Supply Chain Competitiveness:
Coordinate with key industries to mitigate and reduce possible supply chain disruptions.
Develop and implement new logistical technologies for information exchange and trade missions.
Explore new opportunities to complement already existing supply chains to foment competitiveness, reduce flaws, and attract investments in critical sectors.
Take advantage of allyshoring opportunities and develop activities around them.
2. Promoting Sustainable Economic and Social Development in Southern Mexico and Central America
The United States and Mexico will focus on identifying opportunities to develop the growth of sustainable economic and social initiatives in Southern Mexico and Central America. The focus will be on job creation for El Salvador, Honduras, and Guatemalan citizens as a means to disencitivize undocumented migration. This pillar will promote regional growth, rural development, clean energy, and better quality of life for the region.
3. Securing the tools for future prosperity
Both nations agreed that in order to ensure peace and safety for the region, new policies and procedures need to be implemented, including:
Regulatory compatibility.
Implement new technologies for enhanced communication, information management, trade flow, telecom, and infrastructure.
Enhance cross-border data flow for better operations.
Prevent cyber attacks by upgrading and restructuring cybersecurity systems.
4. Invest in our people.
Finally, both nations agreed that investing in their citizens’ growth and wellbeing is a key factor for ensuring social development. Some programs proposed include priorities like:
Inclusiveness and training
Job creation
Investment promotion for small-and medium-sized enterprises (SMEs).
Ensure gender and racial equality
Create and implement new educational programs for children
Looking Forward
The reactivation of the High Level Economic Dialogue (HLED) between the United States and Mexico represents a new era of economic, social, and commercial development for the region. The importance is heightened after the COVID-19 pandemic brought to light how weak global supply chains can be and the vast array of opportunities available for the region to coordinate on attracting allyshoring investments from abroad.
Following the ministerial meeting held in Washington, DC last month, lower ranking government officials are now working together to fine tune the details of the policies and projects that were agreed to. A second ministerial level meeting will be held in 2-3 months at a future date to be determined to revisit the projects and policies proposed and outline the steps to follow in order to implement them properly. It is important for companies that are interested in contributing to this agenda to begin participating and work with experts like Nexus to bring their priorities to the table with the right strategies and institutional channels.
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Nexus Global Ventures participates in Mexican business leaders DC delegation
Our Founder & CEO Victor André Gamas was invited to participate in a delegation of Mexican business leaders and non-profit representatives in Washington, DC. They had the opportunity to present an ambitious, forward-thinking agenda that prioritizes a competitive US-Mexico relationship through trade, investment, and technology.
As part of his role in the delegation, Victor pushed forward the need to collaborate on investment promotion to build a #MadeInTheUSMCA value chain; invest more on modernizing our ports infrastructure to build a #SmartBorder with blockchain, 5G, AI, and IoT; and building more channels of communication to better integrate state and local leaders in this dynamic and vital relationship.
Meeting with Mexico’s Ambassador to the United States, Esteban Moctezuma Barragán as a follow-up to the High Level Economic Dialogue (HLED).
White House National Security Council Senior Director for the Western Hemisphere Affairs Juan González detailed the US federal government’s Mexico policy priorities.
Rep. Henry Cuellar (D-TX 28th District), Rep. Vicente Gonzalez (D-TX 15th District), Rep. Sylvia Garcia (D-TX 29th District), Rep. Lou Correa (D-CA 46th District) on US-Mexico efforts to consolidate value chains and improved security and migration measures.
Former Congressman Will Hurd on the implementation of AI, 5G, and regional security measures.
