The growing relationship between Mexico and China is expected to benefit both the countries. China is currently Mexico’s second largest import partner and third largest export destination, and FTA or not, bilateral commercial relations continue to grow.
In a blog published in the Mexican president’s website said the Presidents of Mexico, Enrique Peña Nieto and China, Xi Jinping, highlighted the degree of agreement between both governments to make way for a new phase in bilateral relations, which will provide the two nations with greater prosperity, development and opportunities on the basis of trade and cooperation, and “above all, in boosting the development we are promoting on the basis of this close relationship and sisterhood between our peoples.”
Both the Countries are Exploring Glowing Opportunities in one another-
It is quite visible that both the countries are eyeing to make considerable improvements in the following sector:
- Bilateral Trade
- Oil & Natural Gas
- Agricultural Products
- Solar Energy
China and Mexico are Natural Partners-
China is more of a natural partner for Mexico as more tangible achievements can be expected. According to the prominent China business lawyers, Mexican entrepreneurs can get the most out of the Chinese manufacturing sector and China could make good use of the agricultural division of Mexico.
China’s Investment in Mexico-
The numerous deals inked by China and Mexico in the past two years also point to warming relations. The state-owned China National Offshore Oil Corporation (CNOOC) plans to invest US$8 billion in Mexico over the next 30 years, indicating that both countries want to move the relationship forward. Moreover, the Industrial and Commercial Bank of China, the world’s largest bank, began operations in Mexico in 2015, providing a platform that further facilitates trade and investment between the countries.
How Mexican Companies can get most out of Chinese Manufacturing Sector –
The Mexican SMEs and big companies can navigate the manufacturing sector of China with ease by making right decision with the help of the Chinese business lawyers. There are a number of ways businesses to go about manufacturing in China. Contract manufacturing is a popular option for both large and small businesses across various industries. Mexican businesses can also choose to invest directly in a factory in China.
China is now Mexico’s third-largest export partner, receiving $5 billion in goods in 2016. Mexico also imports almost 20 percent — roughly $70 billion — of its goods from China. China is Mexico’s second-largest import partner, according to the World Integrated Trade Solution. 70 percent of Mexico’s imports from China are intermediate or capital goods, which are used or repurposed for re-export, Mexico continues to seek to improve its participation in the Chinese market to achieve more balanced trade.