Mexico is ranked 3rd out of five high-growth markets (along with Brazil, China, India and Russia) and it is fast becoming a go-to destination for US manufacturers. The country’s regional proximity lends it an upper hand when compared to these other high-growth regions; with both cultural ties and the NAFTA corridor connecting Mexico to major American markets.
In the past 15 years Mexico has entered over 12 free trade agreements giving preferential treatment to 49 markets on 3 continents. The low labour and utility costs have enticed a number of manufacturers to pursue Mexico as an option that is more cost effective, while still providing the full range of necessary support services (legal consulting administrative, outsourcing, call centres etc.).
To help define why Mexico is fast becoming the destination of choice, we asked our friends at CPI Co-Production to share the top 10 reasons that they have seen manufacturers choose Mexico over other high-growth regions.
For more insights into medical device manufacturing, and to find out more from CPI-Coproduction, join us next month at the American Medical Device Summit 2015 taking place in Chicago.