President Andres Manuel Lopez Obrador affirmed on Tuesday that Mexico has chosen to prioritize the strengthening of its economic ties with the United States and other nations within the Americas, instead of pursuing membership in the BRICS alliance.
During his regular morning press conference, Obrador, or AMLO as he is commonly known, clarified Mexico’s stance, stating, “While we applaud the participation of other countries in this bloc, we will not be seeking membership. Our focus remains on nurturing the partnership with North America and the entire Americas, driven by factors such as geographical proximity and geopolitics.”
His comments were in response to recent media reports suggesting that Mexico, along with 18 other countries, had expressed interest in joining the BRICS coalition composed of Brazil, Russia, India, China, and South Africa. The prospective membership issue was anticipated to be a topic of discussion at the upcoming BRICS summit in Cape Town.
President AMLO emphasized that his administration’s foremost priority is building upon the accomplishments of the July 2020 US-Mexico-Canada Agreement, which succeeded the North American Free Trade Agreement (NAFTA). This commitment aligns with the fact that nearly 85 percent of Mexico’s exports are directed to the United States and Canada.
“Our primary objective is to reinforce the treaty with the United States and Canada, thereby solidifying our stature as a unified region,” underscored the Mexican President. He further stressed the significance of collaborative investments, technological advancements, and a shared labor force among these three nations.
Highlighting recent achievements, President AMLO noted that Mexico has ascended to the position of the United States’ top trading partner, a development that transpired in May.
In the realm of diplomatic engagements, Foreign Secretary Alicia Barcena is scheduled to discuss matters of economic integration, alongside pertinent issues such as migration and drug trafficking, during her visit to Washington this week.
With his term concluding in November 2024, President AMLO expressed his commitment to dedicating his remaining time in office to advancing the vision of transforming the Americas into an economic and trade powerhouse, envisioning it as a globally significant region.
“We are committed to the gradual integration of the entire Americas over the medium- and long-term, while simultaneously overhauling ineffective policies of the past. Furthermore, we aim to garner support from the political leadership, especially within the United States, regarding the pivotal role of Latin America,” the Mexican leader stated with resolve.
The news comes after a seemingly brewing disagreement ensued between primary members China and India regarding the bloc’s expansion. Divergent perspectives on the future direction of the group have emerged between the two nations, exemplified by India’s dissent regarding China’s ambitious endeavor to swiftly broaden the organization’s membership before the upcoming BRICS summit scheduled for August 22-24 in Johannesburg, South Africa.
Earlier this month, both South American states Venezuela and Bolivia sounded off their formal application to be a BRICS member, posturing the bloc to host the world’s largest oil and lithium reserves.
Information for this briefing was found via La Preens Latina and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.