One billion dollars.
That number represents the two-way trade that happens between the United States and Mexico—every day.
It’s a remarkable statistic, and a powerful symbol of the growing trade relationship and friendship between our two countries. Clearly, the story of the U.S. and Mexico is a story of progress. And, many from both countries are committed to ensuring that the next chapter of this story is full of greater opportunities for both peoples.
That’s why, earlier today, I was privileged to co-host the California Mexico Binational Mayor’s Conference with Los Angeles Mayor Antonio Villaraigosa.
We were joined by U.S. and Mexican government and business leaders who came together to identify ways to strengthen our trade relations. Thankfully, we already have a solid foundation to build on.
Combined two-way trade in goods and services was nearly $400 billion dollars in 2010. From the United States’ vantage point, Mexico is our third-largest trading partner. It’s our-second largest export market. And, in California alone, $21 billion in merchandise exports went to Mexico last year—15 percent of the state’s total merchandise.
Clearly, this partnership has been a key to the success of President Obama’s National Export Initiative, which has the goal of doubling U.S. exports by the end of 2014. Last year, exports supported 9.2 million jobs—and Mexico has obviously helped fuel this positive economic activity.
But, today’s global economy is moving fast. And, no country can afford to stand pat and be satisfied. We’ve got to keep changing and evolving.