MEXICO CITY – The American Chamber of Commerce of Mexico is celebrating its 100th birthday, boasting more than 1,450 members, the business group’s new president, Monica Flores, said in an interview with EFE on Tuesday.
Amcham Mexico’s members have a positive outlook but are monitoring the business climate closely since the arrival of Donald Trump in the White House, Flores said.
“Our country’s economic situation faces a time of adjustment and change, and all the business people in Mexico are positive, but with caution,” Flores said.
Amcham Mexico’s members account for nearly 70 percent of the foreign direct investment (FDI) and 30 percent of the jobs in the country.
Flores, who took up her post on Tuesday, said Mexico’s business leaders were up to the task of dealing with the current uncertainty regarding bilateral relations.
“We have faced and survived worse crises. Today, we’re not in a crisis, we’re undergoing macroeconomic adjustment,” Flores, who is the president for Latin America of ManpowerGroup, said.
In January, automaker Ford cancelled plans to invest $1.6 billion in San Luis Potosi, located in north-central Mexico, amid threats by Trump to impose tariffs on companies that shipped American jobs overseas.
Mexican business leaders became alarmed when Ford’s announcement was followed by similar ones from General Motors and other companies.
Flores, for her part, said that while there had been some “business decisions,” business leaders saw “no let-up in the growth of American companies” in Mexico.
FDI, according to American Chamber of Commerce of Mexico figures, totaled $26.7 billion in 2016, with 39 percent coming from the United States.
“The great challenge is to keep up with the times,” Flores said, noting that “uncertainty and globalization” make for a “more complex” world.
The American Chamber of Commerce of Mexico, an independent nonprofit organization with no political affiliations, was founded in 1917 to promote trade, investment, economic development and US-Mexican relations.