France Sees Opportunity for Business Expansion in MexicoBy Elliot Bullman
Faced with the prospect of Donald Trump's protectionist policies, French businesses want to place their companies in Mexico, according to representatives of the European country.
Similarly, the Mexican automotive sector, hardened by the words and political rhetoric of US President Donald Trump, may benefit from an alliance with French companies such as Peugeot, Valeo and Faurecia.
Frédéric Rossi, Deputy Managing Director of Business France - the agency that helps to promote and facilitate international expansion of French companies, emphasized that the current situation could allow Mexico and France to reinforce their collaboration.
The manager considered that Mexico should also seize the opportunity to open up to global markets and not be so dependent on the US economy. "For French companies the Mexican market continues to have an important attraction", he emphasized.
France currently has a strong presence in Mexico in the services and automotive sectors but lacks manufacturing investment. Business France considers that French banks and the retail area are still under-represented.
Rossi said that another focal point is the energy sector with large oil groups like Total, and in renewable energy, where French supply is important.
According to Business France data, three large Mexican firms operate in French territory, generating jobs: Cemex, Sigma Alimentos and Mexichem.
Cemex has 2,000 employees in France, and this year it will create a new concrete production unit there. Sigma, on the other hand generates 1,500 jobs, and Mexichem 450. Meanwhile, France has 500 companies operating in Mexico, which employ more than 120,000 people.
- New oilfield found in the Gulf of Mexico
- What changes does the new SAT invoice have?
- Reducing deficits and recovering jobs, US goals in NAFTA
- Cancun, Acapulco and Los Cabos will have Tourist Police
- Trump is running out of options to deal with north korea
- China and Germany cover the leadership vacuum left by the United States
- UNESCO will add places to the World Heritage Sites list
- OECD sees pension collapse in Mexico within five years
- Buffett's masterpiece will make him Bank of America largest shareholder
- Pacific Alliance could be an alternative to TPP
- Mexican astrophysicist receives recognition from Queen Elizabeth II
- The obstacles facing Trump's solar wall