Business & Labor
Mon February 10, 2014
Mexico Business Symposium Attempts to Balance Utah-Mexico Trade
Utah is the top destination state in the nation for products coming from Mexico but ranks only 37th among states exporting to Mexico. The Governor’s Office of Economic Development hosted a free Mexico Business Symposium Monday at The Leonardo in downtown Salt Lake City in an attempt at reaching a better balance of trade. Harvey Scott is the director of International Trade and Diplomacy for the Office. He says while Utah already has strong business ties with Mexico, there is room for improvement.
“Utah businesses will understand that doing business in Mexico is not necessarily easy but it’s easier than many countries around the world," says Scott. "We also want them to know that there are institutional supporting mechanisms that will help them be successful in Mexico.” Scott says while Canada and the UK may be top export destinations for Utah products or services, Mexico’s short relative distance and booming growth should encourage Utah companies to look there first for expansion into Latin American markets. “So we think there are tremendous opportunities. We want to move from that $500-million dollars per year in exports, to over a billion, and we think that’s absolutely doable," Scott says. Governor Gary Herbert opened the symposium announcing his planned April trade mission to Mexico.