State government supports Trade and Financing in Fisheries and Aquaculture

State government supports Trade and Financing in Fisheries and Aquaculture

Dec 5, 2017

On December 14, SEPESCABC will hold the VIII Trade and Financing Seminar in coordination with FIRA and Fogabac. ENSENADA, BC- Saturday, December 02, 2017.- With the objective of modernizing more than 350 productive units related to the use of marine resources in the state, the State Administration headed by Governor Francisco Vega de Lamadrid, through the Secretariat of Fisheries and Aquaculture (SEPESCABC), will hold the VIII Trade and Financing Seminar in Ensenada, BC. This was announced by the Head of Support and Financing to the Micro, Small and Medium Enterprises of the SEPESCABC, Abraham Huerta Maldonado, who stressed that the interest of the head of the unit, Matías Arona Rydalch, is to offer the attendees opportunities to have access to the capital necessary for the development of projects. He explained that as every year, there will be presentations by specialists from the Aquaculture related Institutional Fund (Fondo Instituional relacionado a la Aquacultura: FIRA), the Shared Risk Trust (FIRCO), as well as from the Liquidity and Loan Fund of the State Government (FOGABAC) . The works will be carried out on December 14, in the Casino Room of the Social, Civic and Convention Center Riviera del Pacífico, where registrations will be made starting at 08:30 AM, and after the opening ceremony, the presentations related to value added support , integration of the value network in the production chain, as well as long-term investment funds to increase the assets and benefits of the companies, will take place. There will also be lectures on online marketing, preparation of commercial missions, leasing programs and financial intermediation, services offered by FOGABAC. For more information, those interested can go to the offices of SEPESCABC, located in Carretera Transpeninsular Ensenada-La Paz number 6500, ex ejido Chapultepec, second floor, or call 172-3080, extensions 3295 with Sergio Egozcue Ayala, or to extension 3269 with Abraham Huerta. Source: Gobierno del Estado de Baja...

Mexico Economy Minister says U.S. NAFTA autos proposal ‘Not Viable’

Mexico Economy Minister says U.S. NAFTA autos proposal ‘Not Viable’

Nov 30, 2017

WASHINGTON (Reuters) – Mexican Economy Minister Ildefonso Guajardo said on Wednesday that demands by the Trump administration for a U.S.-specific automotive content requirement in NAFTA was “not viable,” and declined to specify when Mexico would formally respond. At a news conference following a series of meetings with senior U.S. trade officials and lawmakers in Washington, Guajardo said that Mexico was still trying to understand the U.S. proposals that would require 50 percent of vehicles’ value content be produced in the United States as part of updated North American Free Trade Agreement rules. “I was clear that the domestic content (requirement) is something that is not viable at this point,” Guajardo said. He added that Mexico would eventually make a counterproposal on automotive rules of origin, but declined to specify the timing of that response. His visit was partly aimed at bolstering support in Congress for NAFTA at a time when tax legislation is consuming lawmakers’ attention and U.S. Trade Representative Robert Lighthizer is growing frustrated with the slow pace of NAFTA talks. U.S. President Donald Trump has repeatedly threatened to scrap the trade agreement if it cannot be renegotiated to shrink U.S. trade deficits and return manufacturing jobs to the United States. House Speaker Paul Ryan said after meeting with Guajardo earlier on Wednesday NOvember 29 that congressional Republicans “are determined” to strengthen trade ties with Mexico.   Click here for full article on money.usnews.com...

NAFTA demise would not be devastating, Mexico says

NAFTA demise would not be devastating, Mexico says

Nov 17, 2017

MEXICO CITY (Reuters) – Mexico’s economy minister said on Thursday he did not agree with statements made by U.S. Commerce Secretary Wilbur Ross that it would be devastating for Mexico if the United States pulls out of the North American Free Trade Agreement (NAFTA). “No, I don’t think so,” Ildefonso Guajardo said in a television interview when asked if he agreed with Ross. “Without a doubt, Mexico could face a short-term impact because the market is very sensitive to marketing, branding … Our ability to adjust, and the manner in which we do it, is what will allow us to resist any potential change.” In an interview with The Wall Street Journal CEO Council on Tuesday, Ross said that it “would be devastating to the Mexican economy” if the United States were to pull out of NAFTA. Mexico is preparing a package of macroeconomic measures to help withstand a short-term shock if the United States pulls out of the pact, Foreign Minister Luis Videgaray said earlier in the week. Guajardo said that if NAFTA talks, which are currently in their fifth round in Mexico City, do end up stretching into March, the United States must ask itself if it wants the trade talks to influence Mexico’s July 2018 election. The fifth round of NAFTA talks entered their second day on Thursday, proceeding under the shadow of tough U.S. demands and without the presence of trade ministers who agreed to sit out the discussions. A schedule seen by Reuters showed that negotiators will discuss one of the most contentious issues over the four final days, beginning Saturday. In October, the United States proposed that a revamped NAFTA should set a 50 percent minimum U.S. content requirement for autos, as well as raise regional content to 85 percent from the current 62.5 percent. The four days of talks on rules or origin compare to three in the initial schedule for the previous round in Washington. Mexican Economy Minister Ildefonso Guajardo delivers a speech during the inauguration of the IP Statistics for Decision Makers (IPSDM) Forum in Mexico City, Mexico, November 14, 2017. REUTERS/ Edgard Garrido Labor, and cross-border trade in services (CBTS) will both be discussed...

Trilateral Statement on the 5th Round of NAFTA Negotiations in Mexico City

Trilateral Statement on the 5th Round of NAFTA Negotiations in Mexico City

Nov 15, 2017

Mexico City, Mexico – NAFTA Chief Negotiators confirmed today that although the 5th Round of NAFTA negotiations will formally begin on November 17th, some negotiating groups will begin meeting on November 15th. Nearly 30 negotiating groups will be meeting during the 5th Round, which will conclude on November 21st. The three NAFTA Ministers agreed at the end of Round 4 to allow more space between rounds, in order to provide negotiators with enough time to analyze the proposals that all three countries have tabled so far and to conduct internal consultations. In addition, NAFTA ministers met separately at the Asia Pacific Economic Cooperation (APEC) Leaders Meetings in Da Nang, Vietnam, and instructed NAFTA Chief Negotiators to focus on advancing discussions on tabled proposals as much as possible. Given the substantive discussions held between Ministers at APEC, Ministers agreed not to attend the 5th Round so negotiators can continue to make important progress on key chapters advanced in Round 4. Chief Negotiators from Mexico, United States and Canada will be in constant communication with their respective Ministers and will report on the progress reached in this round.       Oficina de Prensa Embajada de los Estados...

Inflation in Mexicali decreases in the month of October

Inflation in Mexicali decreases in the month of October

Nov 10, 2017

Inflation in Mexicali decreased slightly during the month of October, registering 7.31% in its annualized level, while last September the indicator was placed in 8.10%, according to data from the National Institute of Geography and Informatics (Inegi). However, when comparing the monthly inflation of 2017 against that of 2016, it is observed that it continues at a high level, since it was 2.79% in the same period last year . The main products or services that drove the prices upwards are: LP domestic gas, gasoline, automobiles, snack bars, inns, tortillerías and taquerias, chicken, bottled soft drinks and beef. At the national level, the indicator was 6.37%; greater than 3% in October 2016. Tijuana In Tijuana, inflation was 7.42%, higher than the 3.8% of last year; with respect to last September, the registry does not notice a change since it remained at 7.49%....

Mexico’s economy shrinks on NAFTA concerns

Mexico’s economy shrinks on NAFTA concerns

Nov 2, 2017

Mexico announced Tuesday October 31, that its economy shrank 0.2 percent in the third quarter compared with the previous period amid uncertainty related to renegotiations of the North American Free Trade Agreement and local slowdowns caused by natural disasters. Alfredo Coutino, Latin America director at Moody’s Analytics, said the contraction came after Mexico posted GDP gains of 0.7 percent and 0.6 percent in the first two quarters and confirms an expected deceleration in the second half of 2017. “Investment decisions were affected by uncertainty over the possibility that NAFTA negotiations would break off,” Coutino wrote in a report. He added that monetary tightening and high inflation “restrained consumption,” while “activity was partially interrupted in cities affected by the two earthquakes in September and the hurricanes that struck the southern part of the country.” The government’s National Institute of Statistics and Geography (INEGI) reported the contraction and said that GDP for the third quarter was 1.7 percent higher than in the same period last year. Coutino forecast that Mexico’s economy will grow about 1 percent in the fourth quarter and hit about 1.8 percent on the year, down from 2017 and short of target. With information from Associated Press Author Associated Press The Associated Press is an independent, non-for-profit news cooperative headquartered in New York City. Our teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. We provide content and services to help engage audiences...