Following the implementation of the energy reform, Mexico’s energy market will open to foreign investment for the first time in almost 80 years. “It is a big game changer” says Alfonso A. Rodriguez, ECA finance director at Mexico’s state-owned petroleum company Pemex, on the sidelines of GTR Mexico Trade and Export Finance Conference 2015. Pemex will be able to access equity fundraising, project finance, and other financing that were previously restricted by the law.
Another big change for Mexico comes from the recently-signed Trans-Pacific Partnership, as the agreement is due to open the country’s export markets. “It’s going to give us access to the fastest-growing economic region in the world, and perhaps diminish the dependence that we have on the US economy,” comments Gerardo Gutierrez-Olvera, managing director and head of trade finance and international treasury services at Banorte.
According to Pedro-Rene Ojeda Cisneros, business segment director at BBVA Bancomer, Mexico is ready to compete on the international scale, citing the country’s geographical position, high quality workforce and competitive manufacturing sector as strengths playing in favour of the emerging economy.