The entry into force of the new free trade agreement between Mexico, the United States and Canada (T-MEC), brought an unexpected economic integration, despite the chaotic economic consequences caused by the pandemic, since all trade negotiations also bring with it exchange of technology, knowledge and regulations that strengthen the technology sector.
In the midst of this panorama, Mexico will be forced to invest in technology to compete in the technological field and thus respond to the new market demands. However, the success, or failure, of the T-MEC will depend on what happens in the digital field and on the global positioning of North America in this regard.
While it is true that Mexico will benefit from the democratization of digital commerce, it will also do so through international best practices that will allow, in the long term, to close the current gaps.
The digital chapter of the T-MEC is fundamental since it encompasses the legal framework that provides legal certainty for SMEs, which currently generate 72% of jobs in the country.
In this context, the digital content of the treaty will allow:
Promote cross-border electronic commerce, with the aim that consumers and producers feel included.
Respect intellectual property rights, avoiding content quotas on digital platforms since the region is a creative powerhouse in three languages, unlike China.
Dispense with discriminatory tax regimes.
Promote effective competition and independent regulators in telecommunications matters.
This does not mean discriminating between one business sector and another, but rather creating added value that allows manufacturing, agribusiness and services to develop proportionally based on innovation and knowledge.
In short, the T-MEC should promote technological integration, promoting the digital revolution through electronic commerce and transactions, as well as the design of manufacturing.
And although the three countries win with this strategic agreement, Mexico is the one who obtains the greatest benefits, if it promotes logistical excellence at the border crossing, airports, railways and ports of excellence.
Conclusion:
The economic opportunities that have arisen as a consequence of Covid-19 show that the technological trend is only going to accelerate by privileging the reliability of production chains and the digital economy, which will translate into an imminent economic integration in North America.
Leave A Comment