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Mexico's Economic Minister Seeks Stronger Ties with China

13 September, 2012

According to Mexican Economy Minister Bruno Ferrari,Mexico and China could benefit from more mutual understanding and investment between the two countries. In an interview with Xinhua,Ferrari stated that Mexico felt that connecting with Asian countries,especially China,was very important to the further development of the Mexican economy.

Sino-Mexican economic and trade relationships are still in their beginning stages,he noted,and said that mutual understanding would be needed moving forward. 

"We have studied the Chinese market and found the Mexican share of the market is small. China is also not sure of its opportunities in Mexico. We should know that,for the Chinese goods,Mexico is not only the gate to the U.S. market,but also the gate to enter the market of the whole of the Americas," stated Ferrari in the interview.

He also said that the Shanghai World Expo was a great opportunity for Mexico to come to understand China. During the time. Ferrari was chairman of ProMexico,an investment and export promoter in Mexico. ProMexico was responsible for Mexico's participation in the World Expo,which took place in 2010. Ferrari and his team put together several activities that highlighted the capabilities of the Mexican infrastructure and the mining industry. 

“There is no excuse for the two countries not to develop their trade relations,” said Ferrari,“As a Latin American country located in Central America,Mexico maintains a leading role among Latin American countries. It is meaningful for China to own such a market in the region.”

During the interview,Ferrari also stated that the remarkable achievements of the Mexican economy in 2010 put the nation strongly positioned to increase trade relations with China. During 2010,Mexico saw a 5.2 percent increase in growth with 800,000 new jobs and a 35 percent growth in exporting. Diversifying the economy is the next step. As a member of NAFTA,the Mexican economy is closely tied to the economy in the United States.

“We are getting rid of the restriction caused by the single U.S. Market gradually,as the economy and trade activities between Mexico and European or Asian countries has become more frequent,” stated Ferrari. In closing,he noted that growth in 2011 could well outpace the expected figures,as it did in 2010. 

Topics: Economy