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Mexican economy minister seeks to build stronger Sino-Mexican economic ties
Mexico and China should strengthen mutual understanding and investment to bring their economic and trade relations to a new stage,[link widoczny dla zalogowanych], Mexican Economy Minister Bruno Ferrari said Wednesday.Ferrari told Xinhua in an interview that Asian countries,[link widoczny dla zalogowanych], especially China,[link widoczny dla zalogowanych], were important to Mexico's economic development.
He said the Sino-Mexican economic and trade relationship was still in its infancy, and more mutual understanding was needed."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,[link widoczny dla zalogowanych], for the Chinese goods,[link widoczny dla zalogowanych], Mexico is not only the gate to the U.S. market,[link widoczny dla zalogowanych], but also the gate to enter the market of the whole of the Americas,[link widoczny dla zalogowanych],[link widoczny dla zalogowanych]," Ferrari said.
Before becoming economy minister,[link widoczny dla zalogowanych], Ferrari had been chairman of ProMexico, an investment and export promoter in Mexico,[link widoczny dla zalogowanych], which ran Mexico's participation in the Shanghai World Expo last year.Ferrari said the World Expo was a good opportunity for Mexico to understand China and ProMexico held a series of activities to showcase Mexico's infrastructure and mining industry.
He also said Mexico should become a more important economic ally of China,[link widoczny dla zalogowanych], which was one of the most important economies in the world."There is no excuse for the two countries not to develop their trade relations. As a Latin American country located in Central America,[link widoczny dla zalogowanych], Mexico maintains a leading role among Latin American countries. It is meaningful for China to own such a market in the region,[link widoczny dla zalogowanych]," he said.Ferrari also reviewed the current state of Mexico's economy.
He said the Mexican economy had remarkable achievements in 2010, including 5.2-percent growth, 800,000 new jobs and 35-percent export growth.As a member of the North American Free Trade Area, the Mexican economy relies on the U.S. market excessively,[link widoczny dla zalogowanych], so it took a deep hit from the global financial crisis in 2009. The A/H1N1 outbreak added insult to injury and the Mexican economy plunged 6.5 percent in 2009.
Ferrari said diversification of trading parters was a good way to decrease Mexico's excessive dependence on the U.S. market. "We are getting rid of the restriction caused by the single U.S. market gradually,[link widoczny dla zalogowanych], as the economic and trade activities between Mexico and European or Asian countries have become more frequent."
Mexico's finance ministry and central bank have forecast economic growth of 3.9 percent or 4 percent in 2011.
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