The U.S.-Mexico Partnership for Prosperity

President Vicente Fox and President George W. Bush launched the Partnership for Prosperity in September 2001 to build on the bonds between our countries and to promote economic growth and higher living standards for the citizens of both nations. These commitments are being realized through a public-private alliance in which governments act as facilitators to leverage private sector expertise and resources to deepen the ties between our countries. The Partnership has developed an innovative forum for frank dialogue on economic objectives, joint projects, and new ideas. This model of cooperation is fostering productive investment and employment throughout the region.

The Partnership will convene an entrepreneurial workshop in Guadalajara, Mexico, in June 2004. As in all aspects of the Partnership, the Mexican and U.S. governments will work closely with the private sector to plan, set the goals for and implement the conclusions of the workshop. For the first time we will seek the active participation of state and local governments. The conference will focus on areas such as: financial services, housing, information technology and human capital development. Competitiveness and investment issues will remain overarching themes as we examine these sectors.

A highlight of the Guadalajara conference will be the announcement of the Responsabilidad para la Prosperidad/Good Partner Award winners. Senior officials of both governments will present the awards to the U.S. and Mexican winners at a gala dinner to be held in their honor. Awardees will be recognized for their companies’ programs, activities and accomplishments in support of the Partnership for Prosperity. The Responsabilidad para la Prosperidad/Good Partner Award spotlights the important role that U.S. and Mexican enterprises play in advancing the goals of the Partnership for Prosperity and honors exemplary efforts to contribute to overall growth and sustainable economic development; develop exemplary employment practices; create innovative ventures that benefit lesser developed areas; and encourage community service.

Since its inception in 2001 the Partnership has made significant progress in promoting competitiveness and entrepreneurship. Accomplishments in 2003 include:

• Holding an Entrepreneurial Workshop held in San Francisco, California, which brought together more than 800 Mexican and U.S. private sector representatives and government officials to discuss business opportunities and launch new ventures
• Establishing an automated clearinghouse that reduces the cost and time of cross-border financial transactions through the U.S. Federal Reserve Bank (Atlanta) and Mexican Central Bank (Banco de México)
• Increasing competition in the remittances industry, as financial service providers launched new products allowing Mexican migrants to send money home more easily and at lower cost.
• Bringing the unbanked into the mainstream financial system through financial literacy programs in the U.S. and Mexico.
• Providing assistance to strengthen capacity of financial institutions to provide a broader range of services.
• Serving as a forum for the public and private sector to address competitiveness, enhance skills and develop the resources of both countries.
• Signing an agreement to enable the Overseas Private Investment Corporation (OPIC) to provide investment support in Mexico for private sector projects in education, infrastructure, and the environment. This agreement is subject to approval by the Mexican Senate.
• Reaching agreement between the U.S. Peace Corps and the Consejo Nacional de Ciencia y Tecnología to send Peace Corps volunteers to Mexico to work in the areas of information technology, small business development, and technology transfer.
• Several cooperation agreements with universities from both countries have been signed, fostering the development of human capital by granting scholarships, promoting faculty interchange, and collaborating in joint research programs.
• Developing an agreement between U.S. Small Business Administration and Mexico’s Nacional Financiera and Secretaría de Economía to improve small and medium enterprise capabilities on both sides of the border.