Trickle down to Mexico
Mexican Ambassador Jesus Reyes-Heroles believes a new agreement with the Export-Import Bank will “accelerate [the] trickle-down effect” of the North American Free Trade Agreement for businesses on both sides of the border.
The agreement will provide three-year lines of credit with bank insurance for small- to medium-sized Mexican firms to buy U.S. goods.
“This translates into lower premium rates for Mexican borrowers and into immediate cash access to U.S. providers,” the ambassador said after a signing ceremony this week.
“This agreement represents a new financial mechanism that will incorporate many small- and medium-sized firms from both sides of the border into our expanding bilateral trade.
“We are very encouraged by the impact it will have in accelerating and widening the access [those] firms have to NAFTA’s benefits.
“New instruments, like this agreement, enhance NAFTA’s trickle-down effect on the Mexican economy.”
He said he expects the lines of credit to exceed $1 billion.
Scowcroft advises CSIS
Soldier-statesman Brent Scowcroft has added another title to his impressive resume with his appointment as a counselor to the Center for Strategic and International Studies.
Gen. Scowcroft, who also serves on the CSIS board of trustees and chairs the group’s Pacific Forum, will advise the prominent Washington think tank on all of its programs and projects.
“Brent will be a tremendous asset in shaping CSIS programs and ensuring that we address strategic issues in a bipartisan manner,” said CSIS President and Chief Executive John Hamre.
Gen. Scowcroft, a retired Air Force lieutenant general, served as national security adviser to Presidents Ford and Bush and a military assistant to President Nixon. Other CSIS counselors include Henry Kissinger, secretary of state under Mr. Ford and Mr. Nixon; Zbigniew Brzezinski, national security adviser to President Carter; and former Sen. Sam Nunn, Georgia Democrat.