Mercado Libre Partners with Mexican Government to Promote Local Products
Mercado Libre has joined the Voluntary Agreement to Increase Products Made in Mexico, a strategy promoted by the Federal Government as part of Plan Mexico to strengthen the domestic market and national economic development.
Mercado Libre’s Commitment to Supporting Mexican Entrepreneurs
David Geisen, Country Manager of Mercado Libre Mexico & SVP Marketplace Hispanos, expressed that this agreement will continue to drive the growth of Mexican entrepreneurs.
- Current Presence: Mercado Libre already hosts thousands of products made by Mexican artisans and small to medium-sized enterprises (SMEs).
- Partnerships: Through alliances with the 32 states and three Secretariats of State, Mercado Libre has supported entrepreneurs in digitalizing, formalizing, and reaching new markets.
- Impact: Over one million Mexican SMEs currently use some of Mercado Libre’s ecosystem solutions, and more than two million credits have been granted to entrepreneurs through Mercado Pago.
“We believe that e-commerce is a driver for both economic and social development, and when the public and private sectors work together, opportunities multiply. We are very proud to positively contribute to the country’s economy and continue delivering the best of Mexico,” said David Geisen.
Signing the Agreement
The agreement was signed at Palacio Nacional on Wednesday, May 14, by representatives of department stores, supermarket chains, and e-commerce platforms, including Amazon and Mercado Libre, during an event led by President Claudia Sheinbaum and Economy Secretary Marcelo Ebrard.
Mercado Libre’s Growth and Investment in Mexico
Mercado Libre’s adherence to the agreement comes at a time of strong expansion in Mexico.
- Historical Investment: In April, the e-commerce platform announced a historic investment of $3.4 billion by 2025, the largest in its history in Mexico.
- Resource Allocation: These resources will be directed towards expanding technological, logistical, and financial service infrastructure, creating over 10,000 new direct jobs in various regions of the country.
- Long-term Confidence: Between 2020 and 2025, the company will have invested over $10.4 billion in Mexico, reflecting its confidence in the country’s long-term economic potential.
Key Questions and Answers
- What is the Voluntary Agreement to Increase Products Made in Mexico? It’s a strategy promoted by the Federal Government as part of Plan Mexico to strengthen the domestic market and national economic development.
- Who are the key players involved in this agreement? Representatives of department stores, supermarket chains, and e-commerce platforms like Amazon and Mercado Libre signed the agreement.
- What is Mercado Libre’s investment plan for Mexico? The company plans to invest $3.4 billion by 2025, focusing on technological, logistical, and financial service infrastructure.
- How will this investment impact the Mexican economy? The investment is expected to create over 10,000 new direct jobs and reflect Mercado Libre’s confidence in Mexico’s long-term economic potential.
