Executive VP at Mexican Chamber of Commerce expects closer economic ties_Economy_Asia Pacific Daily

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Executive VP at Mexican Chamber of Commerce expects closer economic ties

Economy2017-07-17

By APD Writer He WeiVictor Cadena, executive vice president at the Mexican Chamber of Commerce in China Thursday said he is looking forwards to a better economic cooperation between Mexico and China in the following ten years.He made the remarks in an exclusive interview with Asia Pacific Daily (APD) on the sideline of a seminar on China’s cooperation with BRICS nations in Shanghai.“Although separated by the Pacific Ocean, we’re linked by the close economic cooperation,” said Cadena.Data have shown that Mexico is the second largest trading partner of China in Latin America. Last year, the bilateral trade volume has reached about 70 billion US dollarsSpeaking of foreign investment, the official said there is ample room to expand investment and business in both Mexico and China as supporting policies to foreign investments have been introduced by the two governments.“There are signed treaty to avoid double taxation between China and Mexico, and also treaty to protect foreign investments. Besides, special tax incentives for investment are available.“The foreign investment law in Mexico is quite open and foreigners can invest most of the industries including banking, telecommunications and energy. Meantime, the property of land can be bought by foreigners permanently,” said he.About two weeks ago, China began to import blueberry form Mexico. Cadena said it’s a new trend, which means more trades will follow.“I would like to see the two countries working in more fields later, manufacturing and auto industry for instance,” he said.Talking about connectivity, the executive VP said China and Mexico's closer economic ties is of great significance in stimulating tourism and encouraging students from both countries to exchange. Moreover, Mexico is the only Latin America country which has direct flights with China.He continued to say that it is an international trend for countries from any continents to work together to boost economy. Around the world, there are many other economic cooperation forums globally or regionally such as G20 and APEC, which all focus on facilitating sustainable growth.Cadena also mentioned the case of the Asia Infrastructure Investment Bank (AIIB), which was founded in 2014, is now an important force on the world stage.“I personally consider that Mexico should submit its application for joining the AIIB as non-regional member” he said.“Government sector, private sector and academics should work closer to contribute to the world’s economic growth and that is what this seminar for,” the executive president concluded.

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By APD Writer He Wei

Victor Cadena, executive vice president at the Mexican Chamber of Commerce in China Thursday said he is looking forwards to a better economic cooperation between Mexico and China in the following ten years.

He made the remarks in an exclusive interview with Asia Pacific Daily (APD) on the sideline of a seminar on China’s cooperation with BRICS nations in Shanghai.

“Although separated by the Pacific Ocean, we’re linked by the close economic cooperation,” said Cadena.

Data have shown that Mexico is the second largest trading partner of China in Latin America. Last year, the bilateral trade volume has reached about 70 billion US dollars

Speaking of foreign investment, the official said there is ample room to expand investment and business in both Mexico and China as supporting policies to foreign investments have been introduced by the two governments.

“There are signed treaty to avoid double taxation between China and Mexico, and also treaty to protect foreign investments. Besides, special tax incentives for investment are available.

“The foreign investment law in Mexico is quite open and foreigners can invest most of the industries including banking, telecommunications and energy. Meantime, the property of land can be bought by foreigners permanently,” said he.

About two weeks ago, China began to import blueberry form Mexico. Cadena said it’s a new trend, which means more trades will follow.

“I would like to see the two countries working in more fields later, manufacturing and auto industry for instance,” he said.

Talking about connectivity, the executive VP said China and Mexico's closer economic ties is of great significance in stimulating tourism and encouraging students from both countries to exchange. Moreover, Mexico is the only Latin America country which has direct flights with China.

He continued to say that it is an international trend for countries from any continents to work together to boost economy. Around the world, there are many other economic cooperation forums globally or regionally such as G20 and APEC, which all focus on facilitating sustainable growth.

Cadena also mentioned the case of the Asia Infrastructure Investment Bank (AIIB), which was founded in 2014, is now an important force on the world stage.

“I personally consider that Mexico should submit its application for joining the AIIB as non-regional member” he said.

“Government sector, private sector and academics should work closer to contribute to the world’s economic growth and that is what this seminar for,” the executive president concluded.

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