Taiwan’s interest in Mexico’s booming tech and innovation sectors is not just a passing phase – it’s a dynamic collaboration that’s set to redefine industries.
In a recent interview with Shao-Lin Hu, Director of the Economic Division at the Taipei Economic and Cultural Office in Mexico, BNamericas explores the burgeoning relationship between Mexico and Taiwan, driven by trade and investment in key sectors such as semiconductors and electromobility. Despite Mexico’s official stance regarding China, Taiwan remains a robust trading partner and leading investor in Latin America.
Intriguingly, Taiwan’s investments in Mexico have surged, reaching $1.15 billion from 1999 to 2022. While Mexico stands as Taiwan’s ninth largest trading partner, the bilateral trade volume between these nations reached $6.74 billion in 2022, showcasing their strong economic ties.
The synergy between the USMCA, nearshoring, and friendshoring positions Taiwan and Mexico as strategic partners, further strengthening their collaboration. This partnership extends beyond the realm of electronics, with a focus on transitioning from fossil fuel vehicles to electric vehicles, exploring opportunities in automation, and advancing smart city initiatives.
With the global microchip and semiconductor sector evolving, Taiwan’s expertise can seamlessly integrate with Mexico’s proximity to the U.S. and the robustness of its supply chain.
In the coming years, expect to see more Taiwanese companies actively contributing to Mexico’s tech-driven landscape. This partnership is not just about investment; it’s a knowledge exchange that will foster growth and innovation in both regions.
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