Suppliers meet buyers in Querétaro
The Automotive Supply Summit generated business worth around $7.56 billion dollars.
The International Automotive Industry Supply Summit was held on May 7 and 8 in the state of Queretaro, where more than a thousand purchase requests were presented, which is equivalent to a potential investment, in five years, for up to seven thousand 560 million dollars.
This according to the president of the Chain of Industry Suppliers in Mexico (CAPIM), René Mendoza, who explained that the two days of activities were attended by three thousand companies, both suppliers and buyers, who held B2B meetings at the Querétaro Congress Centre.
"The only way to end marginalization and poverty is the creation of wealth through participation in the value chain. The automotive sector in the country generates and contributes fundamental value to Mexican society. And today we are meeting to generate wealth and added value, to provide our employees with better wages and better living conditions," he said.
Mendoza explained that this meeting dedicated to the automotive industry featured a technology exhibition, effective business appointments, conferences with purchasing managers from large companies and high-level networking.
He recalled that the aim of the event is to support Mexican and foreign companies established in the country to generate greater business value with links that allow them to join large value chains.
The executive president of the National Auto Parts Industry (INA), Francisco González, stressed that Mexico is a world power in the automotive industry, being the fourth largest exporter of auto parts globally, in addition to generating approximately 900,000 direct jobs in the automotive components sector alone.
Opportunities
The head of the Ministry of Sustainable Development (Sedesu), Marco del Prete, explained that the automotive and auto parts sector in Mexico is facing a window of opportunity without precedent in its history, as the interest of foreign companies to grow and set up in Mexico has increased.
He indicated that, in recent years, two out of every 10 dollars of foreign direct investment have gone to the automotive sector and many of these investments will arrive in the near future to Querétaro.