The European country hopes to obtain the necessary support for its accession to the TPP11 to materialize, comments Dan Carden, trade envoy of the British Prime Minister.

The United Kingdom is interested in increasing its investments in Mexico and taking advantage of its potential for economic growth that nearshoring offers, especially in sectors such as auto parts and health, for which it is waiting for the Mexican Senate to ratify this nation as member of the TPP trade bloc11.

This was reported by Dan Carden, trade envoy of the British Prime Minister, Rishi Sunak, during a visit to Mexico, in which he met with the Undersecretary of Economy, Alejandro Encinas, to strengthen trade and investment relations in the country.

The representative of the Labor Party of England also reported that Mexico committed to ratifying the acceptance of the United Kingdom (UK) to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP, also known as TPP-11), which will help reduce trade barriers between both countries and to link Mexican and British companies for opportunities that arise, such as nearshoring .

In the last five years, investments by British companies amounted to more than US$5.1 billion and have created nearly 50,000 jobs in the country.

"We are working hard to ensure that Mexico's markets are open for British companies. For British companies that want to invest and we firmly believe that Mexico has enormous potential, especially due to nearshoring , due to both the geopolitical and geographical location of Mexico (...) it does not surprise anyone that companies from all over the world are looking at Mexico,” said Dan Carden.

Regarding his country's interest in Mexico, the United Kingdom trade envoy responded: “One of our main sectors is the automotive sector, manufacturing of auto parts, not finished cars (...) it would be beneficial to have a location near the United States.” .

What the government is looking for is to support British companies to work on the development of electric vehicles. “The UK’s green energy offering beyond vehicles.”

The health sector is another priority, with companies like AstraZeneca, which is one of the largest companies in the United Kingdom that invests in innovation, development and technology in the north of Mexico, for the production of high technology, not only for the North American market. but everyone.

On March 30, 2023, the members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP, also known as TPP-11) accepted the accession of the United Kingdom, and it is now up to each nation in the bloc to ratify the European country.