Region:
Mexico
Category:
Economy

Mexico is undergoing a process of rapid change

Region:
Mexico
Category:
Economy
Author/s:
By Miguel Sangineto
Publication date:
Print article

Peña Nieto said that Mexico is the 15th largest economy worldwide and the second in Latin America. "We have 10 FTAs with 45 countries, providing us access to a potential market of over a billion people"

The President, Enrique Peña Nieto, met with members of the High-Level Business (GANE) Mexico-United Kingdom, to whom he said that today our country is undergoing a process of rapid change. "This is an ideal place to invest and grow beside a determined to change and improve the quality of life of its people country now," he said.

He noted that in a democracy, Mexico "has renewed both legally and institutionally, to release their potential". He added that in our country "enjoy macroeconomic stability, sound public finances, an independent monetary policy, a flexible exchange rate and a robust banking system."

He stressed that in the process of transformation of Mexico was relevant that the main political forces reached the political and legislative arrangements needed to realize structural reforms.

At the meeting with His Royal Highness Prince Andrew, Duke of York, President Peña Nieto and the Deputy Prime Minister of the United Kingdom, Nick Clegg, received the conclusions of the first meeting of GANE, which aims to create a forum for consultation issued specific recommendations and to improve business ties and deepen the strategic relationship between the two countries share.

The Mexican president said that Mexico is the 15th largest economy worldwide and the second in Latin America. "We have 10 FTAs with 45 countries, providing us access to a potential of more than one billion people market," he said.

He said that thanks to the constructive dialogue that encourages GANE is possible to identify mutual interests and discover new areas of opportunity. In this context, welcomed the decision of the beverage company Diageo to invest 400 million dollars in Mexico over the next five years.

He expressed confidence that the valuable suggestions of entrepreneurs that make up the GANE "will help achieve greater trade integration between our countries and boost prosperity on both sides of the Atlantic".

"We want more Mexican products in the UK and UK products in Mexico. We want to have more joint ventures, united to face the challenges ahead, "he said.

At the meeting, Deputy Prime Minister of the United Kingdom, Nick Clegg, said the goal of doubling exports in five years from the UK to Mexico was laid in 2011, and now the goal is 50 percent compliance .

In 2014, bilateral trade with Britain in 4000 was $ 320 million. Since the Free Trade Agreement between Mexico and the European Union in 2000, trade has increased by 120.3 percent.

Entrepreneurs attending the meeting agreed that Mexico has huge potential for business and investments in different sectors such as aerospace, biotechnology, auto parts, agribusiness, construction, infrastructure, technological development and energy, among others. They exposed the need for value chains generate benefits for small and medium enterprises (SMEs).

They also stressed their interest in investing not only in the context of the FTA between Mexico and the European Union, but extend its involvement in the Pacific Alliance, our country complies with Colombia, Peru and Chile.

The GANE is headed for Mexico, by Andrés Rozental, President of ArcelorMittal Mexico; and the United Kingdom for Antonio Simöes, CEO of HSBC UK.

In the GANE are represented companies such as Shell, Diageo, GKN, Unilever, Lloyd, BP, Petrofac, Ernst & Young Global, Foster + Partners, and Jaguar Land Rover. In addition, HSBC Mexico, Cemex, Pemex, Grupo BAL, Gruma, KidZania, Omnilife, Cultiba Organization, Mexichem and FRISA Industries.