The U.S.-Mexico High Level Economic Dialogue was inaugurated in Mexico City this past September by Vice President Joe Biden and Mexican Secretary of Finance Luis Videgaray and represents a concerted effort by the governments of the United States and Mexico to focus on the two nations’ enormous economic relationship, which now totals over a half trillion dollars annually in two-way trade of goods and services. The North American Research Partnership took advantage of an opportunity provided by the U.S. Department of Commerce to submit formal comment on the U.S.-Mexico High Level Economic Dialogue and its initial work plan.
The work plan’s three pillars are Promoting Competitiveness and Connectivity; Fostering Economic Growth, Productivity and Innovation, and Partnering for Regional and Global Leadership. In general we emphasized four principal points which we have summarized below:
a. Keep the big picture in mind. Economic security is real security. From the U.S. perspective, the raison d’être for the HLED is stated clearly in the Federal Register notice itself: “Mexico represents a critical strategic ally and partner of the United States.”
b. This effort will require numerous different types of expertise and a new way to work. This is a big challenge and calls for a type of “whole of government” (interagency) work for which there is no readily available and unanimously agreed upon, successful model. Other binational processes (Border 2020 and the 21st Century Border Management Executive Steering Committee) offer interesting lessons and ideas for the HLED.
c. Outreach will be key to the success or failure of the HLED. Stakeholders, policymakers and citizens need to understand the work of the HLED to appreciate its importance. Outreach on international trade is particularly challenging because as a topic it is simultaneously politically difficult, abstract and highly detailed, an unfortunate combination in public policy. Such a high-level dialogue will necessarily need to support and hear input from local- and state-level groups on a continuing basis; as such the HLED should consider a range of robust formal and informal mechanisms for outreach to these groups.
d. Selecting and communicating progress on real metrics will help the HLED and the two nations build better policy on economic engagement. Vice President Biden’s encouragement to reach two billion dollars per day in crossborder trade in 10 years is an ambitious but easily grasped starting point. Keep it simple.
We focused additional comments on specific topics within the second pillar, Fostering Economic Growth, Productivity, Entrepreneurship, and Innovation, which we look forward to sharing in future posts.