Monday, February 26, 2024

US ambassador Salazar says QRO could be a nearshoring ‘leader’

Ken Salazar, the U.S. ambassador to Mexico, said Wednesday that Querétaro has the potential to become a nearshoring leader in the country. 

During a visit to the Bajío state, Salazar emphasized Querétaro’s close ties to the United States and its potential role in strengthening North American supply chains.

Salazar at a summit
Salazar also oversaw the signing of a memorandum of understanding between the National Network of Automotive Industry Clusters and the Pan-American Foundation for Development. (Ken Salazar/X)

“During my visit to Querétaro, I reaffirmed the deep and extensive ties that unite our nations,” Salazar said in a statement posted to his X (formerly known as Twitter) account. “We work so that North America is consolidated as the primary economic power, a power that cares for its people.

“The United States is not only our neighbor, it is our most important trade partner,” said state Governor Mauricio Kuri. There are almost 540 U.S. companies currently established in Querétaro.

During his tour, Salazar stressed different measures the U.S. government and Querétaro are implementing to take advantage of the state’s nearshoring potential, including an educational exchange and scholarship program. Kuri and Salazar also discussed private-public collaborations to “promote renewable energy and environmental protection while generating jobs, opportunities and prosperity.” 

Salazar also hailed a new bursary designed to promote cooperation in the aerospace industry. “To take advantage of the aerospace future of the United States and Mexico through education, it was an honor to participate with Governor Kuri in the launch of the Ambassadors Scholarship,” Salazar said. 

Salazar factory inspection
Querétaro has become a hub for U.S. investment – especially in the aerospace industry. (Ken Salazar/X)

“To boost its students’ talent and ability, the Querétaro government announced a historic investment for young students in the state to study in the U.S., and for young Americans to study at the Universidad Aeronáutica de Querétaro or any other university in the state.” 

Querétaro receives more aerospace investment than any other state, attracting 24.3% of the total foreign direct investment (FDI) in the entire sector between 1999 and 2022. The state received US $980.4 million in this time period from companies within the aerospace manufacturing industry. In July, French firm Safran announced a new US $80 million investment to manufacture its world-leading CFM Turbofan jet engines.

The ambassador also attended a meeting to sign a memorandum of understanding between the National Network of Automotive Industry Clusters and the Pan-American Foundation for Development, which will work with Querétaro and nine other states “so that all workers can experience the benefits of the [USMCA] labor commitments.” 

In 2022, Queréraro received US $753.2 million total FDI, of which US $200 million came from the United States, according to figures from the Economy Ministry. 

With reports from Mexico-Now and El Economista

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