Business Daily from THE HINDU group of publications
Tuesday, Sep 11, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Sep 11, 2007 ePaper |
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Industry & Economy
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Foreign Trade Government - Foreign Relations Indo-Mexican trade targeted to double in 3 yrs
Our Bureau New Delhi, Sept. 10 The trade between India and Mexico has been targeted to double in the next three years from $1.8 billion in 2006, said Mr Felipe Calderon Hinojosa, President of Mexico, on Monday. He said that Mexico can offer to the Indian companies preferential access to one billion customers through the trade agreements with 44 countries, including the US. The President said that the Investment Promotion Organisation of Mexico will be opening a special office in Mumbai by the beginning of next year to promote bi-lateral trade between the two countries and facilitate trade enquiries. Tapping reforms
Mexico and India are one of the fastest growing economies but the bilateral trade represents only 2.6 per cent of Asia-Mexico trade. He said that industries of both the countries should look at the available opportunity and structural reforms in Mexico will assist Indian investors to set up manufacturing base in Mexico. The emergence of EU, Asean and Nafta have created a new economic architecture where Mexico and India have a lot to contribute to each other’s growth, said Mr Kamal Nath, Minister of Commerce and Industry. He said that the business community of both the countries should be aggressive to avail of the opportunity and industry chambers should initiate cooperation with their Mexican counterparts for specific sectors at the micro-level. The Minister said that investor-friendly policies and integration of economies provides tremendous opportunity for Mexico to do business with India. Trade volume
He said that besides being a preferred investment destination, India is also investing overseas and the growing trade volume reflects the same. The meeting was organised jointly by industry chambers CII, Assocham and Ficci.
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