Deputy
Prime Minister of the U.K., Nick Clegg, says the Mexico, U.K. ‘Dual
Year’ will help improve investments. NOTIMEX PHOTO/GUSTAVO DURÁN
THE NEWS
The “Dual Year” of Mexico and the U.K. will spearhead the drive to increase the value of bilateral trade between the two countries to £4.2 billion ($6.3 billion) annually by the end of 2015.
The Deputy Prime Minister of the U.K., Nick Clegg, said the trade objective was established three years ago, and that the combined celebrations of the “Year of Mexico in the U.K.” and the “Year of the U.K. in Mexico” will help realize this goal.
U.K. ambassador to Mexico, Duncan Taylor, said the exchange of trade will be primarily based on machinery, pharmaceuticals and raw materials, which will be necessary for British business operations in the country.
In this celebration, trade and investment will be stimulated and will generate more interest in the products and services of both countries, he said.
This will contribute not only to the growth of the domestic economy, but also help to improve the shared goals of increased international trade.
Potential business opportunities will be a focal point in the upcoming state visit of President Enrique Peña Nieto to the U.K. in early March.
A series of meetings will be held with a select group of business leaders to discuss how to maximize business opportunities between the two countries.
In addition, a “Day of Mexico” will be held during the visit to Mansion House in the City of London, which will focus on promoting business opportunities between the two countries, he said.
Duncan Taylor acknowledged that trade between Mexico and the U.K. at present is only “modest,” which has led the two countries to agree that they are not taking full advantage of their trade potential.
Furthermore, he said, given that the U.K. is ranked as the world’s sixth largest economy, and Mexico between 13th and 14th, the two represent the world’s largest and most powerful countries.
Given the recent structural reforms and the unrealized potential of both economies, he said, British firms see huge opportunities in the Mexican energy and manufacturing sectors.
The “Dual Year” of Mexico and the U.K. will spearhead the drive to increase the value of bilateral trade between the two countries to £4.2 billion ($6.3 billion) annually by the end of 2015.
The Deputy Prime Minister of the U.K., Nick Clegg, said the trade objective was established three years ago, and that the combined celebrations of the “Year of Mexico in the U.K.” and the “Year of the U.K. in Mexico” will help realize this goal.
U.K. ambassador to Mexico, Duncan Taylor, said the exchange of trade will be primarily based on machinery, pharmaceuticals and raw materials, which will be necessary for British business operations in the country.
In this celebration, trade and investment will be stimulated and will generate more interest in the products and services of both countries, he said.
This will contribute not only to the growth of the domestic economy, but also help to improve the shared goals of increased international trade.
Potential business opportunities will be a focal point in the upcoming state visit of President Enrique Peña Nieto to the U.K. in early March.
A series of meetings will be held with a select group of business leaders to discuss how to maximize business opportunities between the two countries.
In addition, a “Day of Mexico” will be held during the visit to Mansion House in the City of London, which will focus on promoting business opportunities between the two countries, he said.
Duncan Taylor acknowledged that trade between Mexico and the U.K. at present is only “modest,” which has led the two countries to agree that they are not taking full advantage of their trade potential.
Furthermore, he said, given that the U.K. is ranked as the world’s sixth largest economy, and Mexico between 13th and 14th, the two represent the world’s largest and most powerful countries.
Given the recent structural reforms and the unrealized potential of both economies, he said, British firms see huge opportunities in the Mexican energy and manufacturing sectors.
Another point to consider is that Britain receives more foreign
direct investment than Italy, Germany and France combined, and makes up
40 percent of all foreign direct investment in Europe, he said.
Thus, the U.K. should be seen as one of the first countries to
attract investment, with an opportunity for Mexican companies such as
Cemex, Gruma and Fresnillo, he said. Duncan Taylor added that for reasons of
language, family and history, Spain is often seen as the first market
in Europe for Mexican business, but the U.K. can also represent a great
opportunity in the context of the dual year.
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