2025 Concordia Annual Summit

Global Trade in Motion: Connecting Markets, People, and Growth

  • Global Economy & Trade
Felicia Schwartz, Altagracia Gomez Sierra, The Hon. Ana Irene Delgado

Session Summary

Important
Quotations

"We're one of the only 18 countries that can produce semiconductors. There are many things that set us apart and we're taking advantage of Mexico's not only strategic geopolitical position, but also the industry that is ready to go."
Altagracia Gomez Sierra
"Multilateralism is extremely important. Actually, one of the topics of President Molino in the UN General Assembly will be to strengthen multilateralism for small countries like ours, which has proven to be an extremely effective tool, not only within our hemisphere, but around the globe."
The Hon. Ana Irene Delgado

Key
Takeaways

  • Mexico’s Strategic Approach: Mexico is reviving industrial policy through renewed collaboration between business, education, and government under “Plan Mexico,” which sets 13 long-term goals such as reaching the global top 10 economies and reducing poverty. With the lowest net tariff freight worldwide and strong manufacturing rankings (#1 in heavy-duty vehicles, #4 in auto parts, #6 in light vehicles, #9 in aerospace, and #4 in medical devices), Mexico is positioning itself as a major global trade and production hub.

 

  • Panama’s Strategic Focus: Panama is deepening multilateral engagement by joining Mercosur and preparing to host the 2026 OAS General Assembly, marking 200 years since the Amphictyonic Congress. Through major infrastructure investments like the Rio Indio reservoir and gas loop projects, the Panama Canal Authority is tackling climate challenges while reinforcing Panama’s role as the “hub of the Americas,” managing over 5% of world commerce.

 

  • Bilateral Relations Management: Mexico and Panama highlight business as a stabilizing force in trade relations, fostering long-term investment and community ties. Nearly 40 million Mexican Americans in the US further strengthen cross-border bonds, while both formal (presidential dialogue) and informal (business advocacy) communication channels enhance cooperation and negotiation outcomes.

Action
Items

  • Immediate Actions: Mexico should take an active role in the upcoming USMCA review, submitting public input to highlight improvement areas while safeguarding key interests. Both Mexico and Panama should continue mobilizing their business communities as effective advocates in trade negotiations, following their successful engagement during past tariff discussions.
  • Medium-term Strategic Actions: Panama must complete the Rio Indio reservoir and gas loop projects to mitigate climate change impacts on canal operations, while Mexico should further diversify its industrial base by strengthening semiconductor, aerospace, and medical device sectors. Panama can also leverage its 2026 OAS General Assembly hosting to boost regional cooperation and attract foreign investment.
  • Long-term Vision Implementation: Both nations should deepen North American economic integration to reinforce the region’s prosperity, advance sustainable development through fair trade, security, and humane migration policies, and enable Panama to harness its geographic advantage and growing Japanese interest to attract multinational investment.

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