Switzerland will continue to invest in Mexico and will strengthen its holdings in some sectors such as financial and pharmaceutical, despite political changes and the renegotiation of the North American Free Trade Agreement (NAFTA).
“Despite political and other issues, the economic and commercial desire is really to continue investing in Mexico, which is an interesting market and companies continue to invest in various projects,” said Sandrine Dupriez, president of the Swiss-Mexican Chamber of Commerce and Industry.
Switzerland represents Mexico’s ninth largest investor with $9bn dollars (2000 to 2015). Some 400 Swiss companies conduct business in Mexican market and account for 50,000 direct Jobs.
Companies such as Nestlé, Roche, ABB, Adecco, Credit Suisse, Novartis, Sonova, UBS and Clariant are all examples of the Swiss enterprises operating in Latin America´s 2nd largest economy.
“Switzerland represents an important diversification opportunity for both sides,” said the executive on the importance of strengthening ties between Switzerland and Mexico.
On the renegotiation of the NAFTA, Sandrine Dupriez noted that this has a global impact and confirmed that Switzerland´s investment plans with Mexico are long-term.
“Mexico is a very important country for Switzerland, after Brazil it is the most important commercial partner in Latin America,” she said.
The main products that Switzerland exports to the Mexican market are pharmaceuticals, chemistries, electronic devices and precision instruments and watchmaking.
On the other hand, Mexico exports to the Swiss market certain metals, precious gems, pharmaceutical and chemical products, as well as energy.
Regarding financial services, the commercial president said that they expect this sector to increase its importance in the Mexican market. Similarly, she said that there are great opportunities in the pharmaceutical sector in the face of health problems such as diabetes, where attention and prevention are required, as well as cancer.
“We also have an agreement on air services, where we seek to have a direct line from Mexico to Switzerland, with a direct flight. I think both countries can offer different things, the Swiss seek the beach and the sun,” she added.