The Mexican Aerospace Fair (FAMEX), organized by the Ministry of National Defense (SEDENA) through the Mexican Air Force, will take place this week. The event aims to attract Foreign Direct Investment (FDI) and create jobs in Mexico by promoting the country’s aerospace industry. During a meeting held on April 25, the British Embassy in Mexico City, a key partner to this event, reported that many aerospace companies from the UK will attend the fair to showcase the opportunities they bring to the market.
The UK participated as a special guest in the first edition of FAMEX in 2015. Since then, the British Embassy in Mexico City has been part of this biennial event, while Commercial Delegations of British companies have also participated to explore possible collaborations to increase international trade. Some of the companies visiting FAMEX this year include BAE Systems, BSI, Akamai, Park Air Systems, Hensoldt, Silent Sentinel, Sliding Systems, ABI Electronics, Filtermist International, 360° DMG and Firefly Green Fuels.
Some of these companies told Mexico Business that they expect to discuss topics such as cybersecurity, personnel training and investments to modernize at this year’s FAMEX. Roberto Rendon, Project Manager, ABI Electronics, told Mexico Business News that the company promotes a "Repair, don't waste" model to address breakdowns and technological failures, so its customers do not lose operating time. A representative from Firefly Green Fuels said that the company is dedicated to producing sustainable aviation fuels (SAF) from wet organic waste materials, such as sewage sludge.
Some attendees also shared recommendations for newcomers to the Mexican market. Fernando Caballero, Director for Government and Industry, AKAMAI, urged companies to consider that business in Mexico does not move at the same pace as in other places. He added that the country lacks the talent to carry out new projects and that modernization efforts are slowly accepted by the industry. "That is why forums like FAMEX are useful to generate awareness and make our solutions known, which are so necessary for an industry like aerospace,” said Caballero.
The UK is Mexico’s 16th largest trading partner globally. In 2021, bilateral trade with the UK exceeded US$5 billion. Likewise, the UK is the eighth largest source of foreign direct investment in Mexico. On May 20, 2022, Mexico and the UK began negotiations for a Free Trade Agreement to strengthen trade in goods and services, increase investment flows and promote digital and cross-border trade, as reported by Mexico’s Ministry of Foreign Affairs (SRE). These initiatives will likely generate more opportunities for collaboration.