Amazon Invests in the CIIT: Minister of Foreign Relations

Mexico’s Minister of Foreign Relations, Alicia Bárcena, confirmed during a forum hosted by the Inter American Development Bank (IDB) that Amazon is already investing in the Interoceanic Corridor of the Isthmus of Tehuantepec (CIIT), which connects the Pacific and Atlantic oceans. The e-commerce giant aims to educate SMEs on how to be successful in the e-commerce sector, she adds.

Bárcena mentioned the news in the panel "Economic integration as an engine for inclusive growth," held on Nov. 2 as part of the IDB’s Responsible Investment Forum. The event was attended by several politicians and business leaders. Bárcena says that Amazon and the Mexican Government signed a Memorandum of Understanding and that the company is investing in the CIIT.

The CIIT entails the construction of a 303km railway that will connect vital ports, highways, and airports. This corridor is set to host 11 industrial parks for the private sector, which will be called Development Poles for Well-being. These poles will provide essential utilities for interested businesses, including fiber optic, natural gas, drinking water, and electricity. CIIT will facilitate the transportation of passengers and cargo through various routes, bridging Salina Cruz, Oaxaca, to Coatzacoalcos, Veracruz, as previously reported by MBN.

E-commerce will propel the region’s economic growth, says Arrow Augerot, Director, Americas Public Policy, Amazon. For that reason, Amazon is building its assets and seeking partnerships with governments to educate SMEs.  The Memorandum of Understanding with Mexico is part of Amazon’s strategy to create better practices to promote trade between Mexico and the United States.

During the event, Bárcena also discussed the need to promote a development model that focuses on three elements: economic prosperity, social inclusion, and environmental sustainability. She also highlighted the strong bilateral relations, as Mexico is the top commercial partner of the United States, with a commercial exchange of U$855 billion just last year.

Bárcena added that the government is working on a strategy to ensure North America can produce conductors and semiconductors from Asian companies. She adds that the government plans to invest in electromobility, medical devices and pharmaceuticals, and semiconductors. She also urged the IDB and the North American Bank to invest in modernizing the Mexico-US border to improve its infrastructure and eliminate drug and arms trafficking.

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