Facing uncertainty in their country’s trade relationship with the United States, a growing number of Brazilian companies are taking a serious look at investing in Mexico, the president of the Brazil-Mexico Chamber (Bramexcam), Liborio Rauber, said on Thursday.
According to Rauber, more than three dozen Brazilian companies stand ready to invest in the development of factories, production lines, data centers and distribution centers in major Mexican cities like Monterrey, Saltillo, Querétaro, Tijuana, Guadalajara, Ciudad Juárez and Mexico City.
Mexico and Brazil eye expanded trade deal ahead of August meeting
“Today, at the Chamber, we are presenting 42 projects from Brazil from companies that want to open markets or make investments here in Mexico,” Rauber said.
Currently, 48 Mexican companies are established in Brazil, though that number pales in comparison to the 716 Brazilian companies operating in Mexico. Mexican brands with operations in Brazil include the automotive Numak, the food company Bimbo and the telecommunications firm América Móvil. Rauber pointed out that roughly 19.7% of internet use by Brazilians goes through Claro, a company owned by América Móvil.
Also of note, the Mexican convenience store chain Oxxo has opened 500 stores across Brazil in just two years, though there are apparently a few glitches. “You know the difference between Oxxo in Brazil and Oxxo in Mexico?” joked Rauber. “There [in Mexico], the second cash register actually works and they have change.”
Rauber’s announcement of the 42 interested companies followed a call between Mexico’s President Claudia Sheinbaum and her Brazilian counterpart Luiz Inácio Lula da Silva (Lula) on Wednesday. The two leaders agreed that a delegation led by Brazilian Vice President Geraldo Alckmin would visit Mexico on Aug. 27 and 28.
“We followed up on the agreement to welcome in Mexico authorities and business people from Brazil, with the aim of deepening our collaboration on various issues,” Sheinbaum wrote on social media.
HAY OXXO EN BRASIL?!?!?!?! https://t.co/qizOgPFo5e
— lex | bts is back (@berriesnsprite) March 11, 2025
Meanwhile, Lula said on social media that the pair had “discussed the expansion of the Brazil-Mexico trade agreement, highlighting the potential of the pharmaceutical, agricultural, ethanol, biodiesel, aerospace, innovation and education sectors as strategic areas in our bilateral relationship.”
Bramexcam represents companies across a wide range of sectors, including the automotive, aerospace, pharmaceutical, chemical and agribusiness industries.
According to the business chamber, some of the principal exports between the two countries include:
Products exported from Brazil to Mexico:
- Soybeans – US $547 million
- Automobiles – $477 million
- Steel – $453 million
- Engines – $413 million
- Lumber – $171 million
Products exported from Mexico to Brazil:
- Auto parts – $628 million
- Automobiles – $403 million
- Chemicals – $233 million
- Electronics – $192 million
- Computers – $188 million
With reports from Forbes