Introduction to Querétaro’s Trade Expansion Efforts
In a virtual meeting with Coparmex members, Marco Antonio Del Prete Tercero, the Secretary of Sustainable Development (Sedesu) in Querétaro, Mexico, emphasized the state’s ongoing efforts to access new markets. Among these emerging trade partners are European and South American countries interested in bolstering their commercial ties with Querétaro.
Querétaro’s Strategic Focus on Diversifying Trade
Del Prete Tercero highlighted the potential for Querétaro’s businesses to engage in trade with these regions, selling and purchasing products. The state aims to reduce its commercial dependence on the United States by identifying new markets and strengthening its internal market.
Key Objectives for 2025
By 2025, Querétaro faces significant challenges in trade, labor, and relations with the United States. In response, local entrepreneurs have collaborated with the state to devise a strategy for accelerated job creation. This strategy anticipates a 50% growth in job registrations compared to 2024.
Supporting Small Enterprises and Fostering Internal Market
The secretary stated, “We are seeking new mechanisms to strengthen the internal market through the programs offered by the Secretariat of Sustainable Development. We have placed special emphasis on small businesses, traders, service providers, and small industries, promoting support to foster the internal market.”
Additionally, the state aims to further develop cluster models to reinforce sectors that make up its industrial base.
Querétaro’s Current Trade Relations
Querétaro’s local economy has a close commercial relationship with the United States, reflected in its foreign direct investment (FDI). From 2006 to 2024, 26.4% of the state’s FDI came from the United States, according to data from the Secretariat of Economy.
- Canada: 16.1%
- Spain: 13.6%
- Germany: 8.9%
- Brazil: 5.4%
Among the top 10 countries investing in Querétaro are France, Japan, Switzerland, the Netherlands, and South Korea.
Key Questions and Answers
- What is the main focus of Querétaro’s trade efforts? Querétaro aims to diversify its trade partners and reduce dependence on the United States by exploring new markets in Europe and South America.
- What are the key objectives for Querétaro’s trade strategy by 2025? The state aims for a 50% growth in job registrations compared to 2024 and supports small enterprises to foster the internal market.
- What is Querétaro’s current foreign direct investment (FDI) composition? As of 2024, 26.4% of Querétaro’s FDI originated from the United States, followed by Canada (16.1%), Spain (13.6%), Germany (8.9%), and Brazil (5.4%). The top 10 countries investing in Querétaro also include France, Japan, Switzerland, the Netherlands, and South Korea.
