Enrique Peña Nieto took office as the President of Mexico on Saturday. Last week he visited President Obama.
His agenda is to show the world how much progress Mexico is making in its economy at home. He also is committing his country to modernizing its laws on human rights and labor conditions. And lastly, he is restating his intention to cut down violence and drug trafficking in Mexico.
The business news from Mexico is good. Plants are opening up in cities like Querétaro where labor conditions are good and highly skilled workers are available. The Mexican economy is growing at a 4 percent rate this year. It grew faster than Brazil’s last year.
The slow U.S. economy has hurt and helped Mexico. It did slow down exports to the U.S. and that hurt. But human traffic over the border is way down and there are more chances for jobs for Mexicans at home.
Mexico is still a relatively poor country. Nearly a third of the country’s workers have no benefits or job protection. President Pena Nieto’s goal is to alter the labor code that would formalize thousands of jobs.
Mr. Peña Nieto also plans to rewrite the tax laws to open the state-owned oil company to private investment. He also wants to reform powerful monopolies.