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Former President Vincente Fox Comments On Mexico's Booming Economy

13 September, 2012

In a recent speech given to a crowd of several hundred attendees at an event held by the Texas Turkish American Chamber of Commerce,former Mexican president Vincente Fox challenged the idea that Brazil,Russia,India and China will be the new leaders emerging in the global economy,stating that,"Mexico's economy should be right there."

Fox went on to remind listeners that Mexico's economy is not only larger than Russia's,but is also more than 10 times that of Brazil,with a per capita income that is larger than all four of the previously named countries. Fox served as president of Mexico from 2000 to 2006,and also commented on the importance of US-Mexico trade relations,"Mexico's imports from the US have surpassed $250 billion,which means lots of jobs for US citizens."

Fox went on to discuss the need to expand trade agreements in Mexico using the European Union as a model,including increasing cooperative efforts between the US and Canada to expand the protocols of the North American Free Trade Agreement (NAFTA),which he believes would help to further integrate the economies of the three countries and bring added prosperity to all involved.

Tourism remains the third-largest source of annual revenue for Mexico,with more than $3.5 billion expected to be invested in the sector during the next three years alone,which is expected to create more than 20,000 new jobs and bodes well for the continued growth of the country's economy. In addition,Fox said the continued stability of Mexico's government and economy is one of the main reasons that the overall economy is expected to grow more than 5 percent in 2011 alone. "We learned in Latin America that stability works. Stability,harmony,peace."