China and Mexico to hold high-level trade discussions next week

09-Dec-2019 Intellasia | Reuters | 6:40 AM Print This Post

A high level delegation of Chinese and Mexican business and government representatives are scheduled to meet in Mexico City on Tuesday and Wednesday to discuss trade and foreign investment, industry executives said.

The meetings are set to take place as the United States and China are in the throes of a trade war, which has made Mexico an increasingly attractive destination for Chinese companies to explore setting up shop.

Bosco de la Vega, head of Mexico’s national farm council, CNA, said he had received an invitation from Mexico’s Economy Ministry and would attend.

“CNA is looking to open new markets, lower tariffs on some products and establish phytosanitary measures. We want more trade with China,” he said.



This will be the seventh round of meetings of the so-called High Level Business Group, aimed at deepening trade and economic ties between Mexico and China. The last meeting took place in November 2018 in Shanghai.

Among the topics scheduled to be discussed are trade facilitation and foreign direct investment, as well as cooperation in energy, infrastructure, telecommunications, and financial services, said one of the people familiar with the meetings.

Representatives from Huawei Technologies, which was placed on a US trade blacklist earlier this year over security concerns, have been invited, according to a list of invitees seen by Reuters.

The Bank of China (601988.SS), Industrial and Commercial Bank of China (1398.HK), China Development Bank, China National Offshore Oil Corporation, and China Huaneng Group among others, have also been invited to the event.

China’s ambassador to Mexico was also invited. The embassy did not respond to a request for comment.

Representatives from Mexico’s Grupo Bimbo (BIMBOA.MX), Gruma (GRUMAB.MX) and Grupo Alfa, as well as magnate Carlos Slim, the country’s richest man, have also been asked to attend. A spokesperson for Slim could not confirm if he had received an invitation.

Mexico’s Economy minister Graciela Marquez, Foreign minister Marcelo Ebrard and Finance minister Arturo Herrera are also scheduled to participate in the meetings.

The ministries did not respond to requests for comment.



Category: China

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