Peru's integration into Mexican global value chains, united by the Pacific Alliance FTA, will expand the national automotive industry into an international auto-parts market, and thus represent a business opportunity worth up to US$80.00 billion, Foreign Trade and Tourism Minister Magali Silva projected.
"As long as Peruvian companies, above all SMEs, increase their participation in Mexico's supply chains, there will be higher investment levels, further job creation and greater exports," Silva explained.
In this sense, the "Opportunities in Mexico's global value chains" forum was held in Lima to promote national small, medium and large-sized companies' participation in the said sector.
Potential market
Mexico relies on a high trade potential. Currently, the Aztec country is the world's seventh largest auto-parts supplier and the fourth major exporting country.
Besides, it hosts 90 out of 100 global leading auto-parts enterprises, being the U.S. its main target market.
Under this approach, the Mexican production chain could open business opportunities for Peruvian SMEs.
In 2015, Peru's auto-part exports amounted to US$11 million. The figure is expected to increase by over 50%.
(END) SDD/RES/HMC/MVB
Published: 5/23/2016