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Mexico City, Mexico.  The Provincial Government of Bizkaia, in collaboration with Bilbao’s Chamber of Commerce with the support of SPRI/Basque Government office in Mexico, will present a trade mission today conducted by 94 Bizkaian companies. The goal of this trip is to help participating companies to investigate business possibilities in Mexico and to establish business contacts with Mexican clients, boost sales and help open delegations of companies who already have export lines in this country. 

The press conference will take place at the Presidente Intercontinental Hotel at 8 a.m., and will be attended by the Deputy of Economic Promotion, Imanol Pradales; the Director of Bilbao’s Chamber of Commerce, Mike Arieta-Araunabeña; and the ProMexico Coordinator for Europe, Africa and the Middle East, Alejandro Hinojos.

Mexico, the second market in Latin America

Mexico was chosen for this third trade mission because it is one of the top destinations for foreign investment in general on the American continent and for Basque investments in particular.  Basque exportation and that of Bizkaia to this country has doubled in three years thanks to the dynamism of the Mexican economy and exports from the territory to Mexico represent approximately 20% of Basque exports based on data collected in 2012.

These exports are very diverse, but the largest exports are of iron and steel products, automobile parts (due to the presence of Basque companies in that sector in Mexico) and industrial machinery, according to the Provincial Government of Bizkaia.

As far as investments, Mexico occupies a very relevant place as far as Basque enterprises go.  Bilbao’s Chamber of Commerce has identified 80 Basque companies with a productive or commercial presence in Mexico, although this number is estimated to be higher, and has grown significantly in recent years.