State of Mexico Emerges as Key Destination for Swedish Business Expansion

Sweden and Mexico are writing a new chapter in their economic partnership. The two countries are exploring fresh opportunities for trade and investment.

This development comes as Swedish companies show growing interest in the Mexican market. Swedish Ambassador to Mexico, Gunnar Aldén, recently led a delegation of Swedish businesspeople to Mexico.

They met with officials from the State of Mexico, including Laura González Hernández, the Secretary of Economic Development. The focus was on identifying new commercial opportunities and strengthening existing ties.

Currently, 78 Swedish companies operate in the State of Mexico. These include well-known brands like Volvo Buses, AstraZeneca, Alfa Laval, and Tetra Pak.

Ambassador Aldén emphasized the importance of showcasing what the State of Mexico offers to Swedish businesses. The delegation, which visited on October 16 and 17, included 12 companies from the automotive sector.

Among them were Volvo and Scania, as well as auto parts manufacturers like Autoliv. Autoliv employs over 1,500 people in the state and produces safety belts for 45% of cars worldwide.

Swedish Investments in Mexico

Ambassador Aldén expressed confidence in Swedish investments in Mexico. He dismissed concerns about potential tariffs on Mexican-made vehicles proposed by U.S. presidential candidate Donald Trump.

The ambassador stressed that Sweden and the State of Mexico have a strong partnership. Volvo Trucks recently announced a $700 million investment in Monterrey.

This plant will be one of the largest in the world for manufacturing Volvo and Mack brand trucks. It will supply markets in the Americas, showcasing Sweden’s commitment to Mexico.

The State of Mexico ranks as the second most important region for Swedish investment in Mexico. Querétaro follows closely, with a growing Swedish presence in advanced manufacturing and technology sectors.

Following the delegation’s visit, plans are underway for further discussions with state officials. The next step may involve a meeting with Governor Delfina Gómez Álvarez.

Ambassador Aldén expressed readiness to return for more talks. The visit also included a meeting with the Business Coordinating Council (CCE). This provided insight into the private sector’s perspective in the State of Mexico.

Ambassador Aldén took the opportunity to highlight Sweden’s interests and the countries’ 140-year diplomatic relationship. The recent state visit by the King and Queen of Sweden in March further strengthened bilateral ties.

Ambassador Aldén expressed pride in this milestone, underlining the importance of such high-level exchanges in international relations.

As Sweden and Mexico continue to explore new avenues for cooperation, their economic partnership looks set to flourish. This collaboration promises mutual benefits and opens doors for innovation and growth in various sectors.