The trade between India and Mexico has been targeted to double in next three years from the existing figure of $1.8 billion in 2006, said Mr. Felipe Calderon Hinojosa, President of Mexico at a meeting on "India-Mexico: Opportunities for Business", organised jointly by the Confederation of Indian Industry (CII), the Associated Chambers of Commerce and Industry of India (ASSOCHAM) and Federation of Indian Chambers of Commerce and Industry (FICCI.
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 Pro- Mexico( The Investment Promotion organisation of Mexico)will be opening a special office in Mumbai by beginning of next year to promote bi-lateral trade between the two countries and facilitate trade enquiries.
Mr. Hinojosa said that Mexico and India are one of the fastest growing economies but the bi-lateral trade represents only 2.6% 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.
Mexico’s policies are directed towards economic stability, public safety and increasing competitiveness. This should make the country a natural platform for investment by 2012, said the President. The President said that Mexico invites Private sector investment in the Infrastructure sector.
Refering to the Goldman Sachs report, The President said that India and Mexico are going to be the 3rd and 5th largest economies of the world respectively. Mexico has to learn from India the process of growth and achieve targets for the overall economic growth of the country.
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, Union Minister of Commerce and Industry, Government of India.
He said that the business community of both the countries should be aggressive to avail 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. He said that besides being a preffered investment destination ,India is also investing overseas and the growing trade volume reflects the same.
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 Pro- Mexico( The Investment Promotion organisation of Mexico)will be opening a special office in Mumbai by beginning of next year to promote bi-lateral trade between the two countries and facilitate trade enquiries.
Mr. Hinojosa said that Mexico and India are one of the fastest growing economies but the bi-lateral trade represents only 2.6% 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.
Mexico’s policies are directed towards economic stability, public safety and increasing competitiveness. This should make the country a natural platform for investment by 2012, said the President. The President said that Mexico invites Private sector investment in the Infrastructure sector.
Refering to the Goldman Sachs report, The President said that India and Mexico are going to be the 3rd and 5th largest economies of the world respectively. Mexico has to learn from India the process of growth and achieve targets for the overall economic growth of the country.
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, Union Minister of Commerce and Industry, Government of India.
He said that the business community of both the countries should be aggressive to avail 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. He said that besides being a preffered investment destination ,India is also investing overseas and the growing trade volume reflects the same.
