Governor Mark Dayton to Lead Trade Mission to Mexico

Press Release

Governor Mark Dayton will lead representatives from business, education and cultural institutions on a trade mission to Mexico this summer that will focus on strengthening Minnesota exports and ties to the world's 15th-largest economy.

The Aug. 9-14 trade mission will include visits to Mexico City and Guadalajara. Besides helping Minnesota companies find business opportunities in Mexico, the governor hopes to attract Mexican investments to Minnesota and promote the state as a great place to do business.

The mission is being coordinated by the Minnesota Trade Office within the Minnesota Department of Employment and Economic Development (DEED).

"As Minnesota's second-largest export market, Mexico is a very important trading partner for businesses and farmers throughout our state," Governor Dayton said. "The goal of this trade mission will be to establish and build relationships that will help Minnesota companies and producers increase their exports to Mexico, and in doing so, create more jobs here at home."

"With a growing middle class and increased demand for high-quality Minnesota-made products, Mexico is one of our state's fastest-growing trade partners," added DEED Commissioner Katie Clark Sieben. "The governor's trade mission will open doors for Minnesota companies to increase sales to Mexico and identify opportunities for new foreign investment into Minnesota."

Mexico became the state's second-largest export market (behind Canada) last year, with sales climbing 52 percent from a year earlier to $2.2 billion. Since 2004, Minnesota exports sales to Mexico have jumped 255 percent, adjusted for inflation.

Minnesota companies send a broad range of manufactured exports to Mexico, including machinery, electrical machinery, vehicles, plastics and foods, as well as agricultural commodities such as corn and soybeans.

Mexico is a top three market for nine of the state's top 10 export products. The country is the state's largest market for meat products, miscellaneous grains/seeds, cereals and dairy/eggs and is the state's second-largest market for machinery, vehicles, food byproducts, ores/slag/ash, rubber and processed foods.

Many Minnesota firms are already doing business in Mexico, with 31 companies operating 255 foreign subsidiaries there. Minnesota companies doing business in Mexico include 3M, H.B. Fuller, St. Jude Medical, Medtronic, Ecolab, Valspar, Cargill and C.H. Robinson.

The outlook is good for continued economic growth in the country of 122 million people. The World Bank estimates Mexico's gross domestic product (GDP) -- valued at $1.3 trillion in 2013 -- will grow by 3.3 percent to 3.8 percent between 2015 and 2017. By comparison, GDP is projected to grow 1.7 percent to 3.3 percent during that period in South America and Central America and by 3 percent to 3.3 percent in the United States.

Officials expect demand for U.S products will grow in Mexico as more employment opportunities and higher educational attainment increase the purchasing power of Mexicans and expand the middle class.

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