UK news giant The Guardian reported that British Prime Minister David Cameron visited Mexico City this week to meet with President Felipe Calderon. They discussed increasing British business interests in Mexico,which is currently the second largest economy in Latin America.
Britain currently supplies less than 1 percent of Mexico’s imports and is looking to increase this number,a smart move by all accounts,considering that Mexico is poised to become one of the world’s five largest economies by the year 2050. As a result of the meeting,the two nations have signed an agreement to double trade to more than 6.5 billion dollars by the year 2015.
Calderon had just chaired the G20 Summit in Los Cabos along Mexico’s Pacific Coast. In statements to the press after their meeting,the two leaders promised to strengthen the economic ties between Britain and Mexico. Cameron also met with Mexican Carlos Slim,who is the world’s richest man,acquainting the leaders with the a UK business delegation made up of ceramicist Emma Bridgewater and a variety of green energy corporations.
Mexico’s economy is expected to grow by at least 4 percent in 2012,thanks in part to a booming manufacturing sector and a swelling economy that has been creating upwards of 600,000 jobs each year,creating a new standard for the country’s middle class. Although four fifths of Mexico’s total current trade volume is still with the U.S.,Britain is the fifth largest foreign investor in the country; a number that promises to continue to grow in the coming months and years.
In more great news for Mexico real estate,the country outpaced Brazil in terms of its GDP growth in 2011 and is expected to do so again in 2012.
“The centre of the world’s gravity is shifting from the west to east (and) from the north to south,” stated Britain’s trade minister Lord Green. “Mexico is becoming a diverse growing economy that is more and more interesting to British business.”