Challenges of Mexico-US Cross-Border Trade; Processes Would Be More Efficient with Data
Cross-border trade between Mexico and the United States has seen a significant increase, accompanied by growing challenges due to the high volume of daily goods exchange. In 2023, Mexico was the top trading partner of the United States, with exports valued at $475.606 billion and imports at $323.227 billion, totaling $798.834 billion.
Experts highlight that governments are using the border to ensure their economic and national security, as well as to address issues such as climate change and labor legislation. To keep up with these trends, infrastructure and technology are needed, especially in areas like nearshoring, which is gaining popularity in Mexico.
Efficiency in cross-border trade processes largely depends on data availability. However, concerns exist regarding data security and lack of standardization in communication between countries. Despite these challenges, there is recognition of the need to share data and adopt technologies to improve trade efficiency.
To read the full article: https://t21.com.mx/retos-del-comercio-transfronterizo-mexico-eu-los-procesos-serian-mas-eficientes-con-datos/