Mexico increasing importance as CARICOM trading partner

www.caribbean360.com


BRIDGETOWN, Barbados, Thursday May 17, 2012 – Mexico's President, Felipe Calderon, is expected to lead a high-powered delegation to Barbados next Monday, May 21, for the one-day CARICOM-Mexico summit, between his country and representatives from 15 Caribbean Community (CARICOM) nations.


Barbados and its CARICOM partners have identified Mexico as one of the Latin American states with which closer relations should be encouraged as a means of increasing economic activity.


CARICOM leaders are expected to discuss a number of pressing issues, including tourism, trade and investment and technical cooperation between their bloc and Mexico.


Mexico assumed the Presidency of the Group of 20 (G20) earlier this year and the summit will provide with the opportunity to brief CARICOM Heads of Government on its strategic vision for the G20, as part of its overall goal to establish a forum in which open and constructive dialogue may be facilitated.



Mexico has the second largest economy in Latin America and is a major oil producer and exporter. It has been listed as an emerging market, which, along with Britain, Russia, India and China (countries of the BRICS) and Vietnam, Indonesia, South Africa, Turkey and Argentina (VISTA groups), has the potential to be ranked among the world's largest economies in the next three decades. Mexico is considered to have an excellent outlook for investment and future economic growth.


Mexico has reiterated its ongoing commitment to fostering South-South cooperation and hemispheric collaboration and its convening of this Mexico-CARICOM summit is seen as furthering its commitment.


At the first CARICOM- Mexico Summit in February 2010, Heads examined such issues as: support for Haiti in the aftermath of the January 12 earthquake; boosting trade and growth across the region; protecting and developing tourism; boosting regional security, and tackling climate change.


The May 21 summit at the Hilton Barbados is expected to feature Prime Minister Freundel Stuart, President Calderon and the current Chairman of CARICOM, President Desiré Bouterse, of Suriname, addressing the opening ceremony.

The summit is expected to include deliberations on how to exchange ideas on the Inter-American system; and the identification of means by which CARICOM and Mexico could collaborate in hemispheric multilateral fora such as the Organization of American States (OAS) and the recently constituted Community of Latin American and Caribbean States (CELAC). Another key agenda item will be next month's United Nations Conference on Sustainable Development (UNCSD) Rio+20 in Brazil.