ASEAN keen on bolstering trade, investment with Mexico

Mexico City - A delegation of the ASEAN Committee in Mexico City (ACMC) paid a working visit to Guanajuato state, aiming to bolster trade and investment.

The delegation, comprising representatives from Indonesia, Malaysia, the Philippines, Thailand and Vietnam, joined working sessions with leaders of Guanajuato and Irapuato cities regarding economic development, foreign trade, tourism and education.

Governor of Guanajuato Diego Sinhue Rodríguez Vallejo and local leaders spoke highly of cooperation possibilities across all fields with ASEAN, particularly economic development, trade, investment and tourism, which are expected to help the state in particular and Mexico in general diversify export markets and attract foreign investment.

Malaysian Ambassador to Mexico Muzafar Shah Mustafar, who is rotating chair of the ACMC, underlined bilateral cooperation potential in manufacturing, information technology, investment, education, tourism and logistics, affirming that ASEAN serves as a gateway for Mexican products to penetrate the Asian market.

Vietnamese Ambassador Nguyen Hoanh Nam said that Mexico is among important markets of ASEAN in Latin America, calling on enterprises to bolster connectivity and capitalise on advantages brought by free trade agreements, especially the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Mexico and its localities’ economic cooperation, trade and investment chances with ASEAN were tabled at the ASEAN-Guanajuato business forum, which saw the attendance of 100 local businesses.

Statistics by the Mexican Secretariat of Economy showed that trade between Mexico and Indonesia, Malaysia, the Philippines, Thailand and Vietnam surpassed 28 billion USD in 2021.