Mexican Economy Secretary Calls Increased Ties with China ‘Fruitful’
Mexico and China have made significant gains from cooperation in trade and other areas since the establishment of bilateral diplomatic relations 50 years ago, Mexican Economy Secretary Tatiana Clouthier said last week.
“We are very pleased” with the “significant achievements that have been cultivated over time,” Clouthier said in an interview with the Chinese news agency Xinhua.
“China is Mexico’s second-largest trading partner. We have an institutional economic dialogue that has been developed by the private sectors of both countries,”
Clouthier added that Mexico has a vibrant Chinese community.
Mexico is now China’s second-largest trading partner in Latin America.
In 2021, the bilateral trade volume between China and Mexico reached $86.6 billion, a year-on-year increase of 41.9 percent, hitting a new high, according to the Chinese Ministry of Commerce.
Mexico’s exports to China increased by 17 percent annually in 2021, while its imports from the Asian country grew by 37 percent, according to data from Mexico’s Central Bank (Banxico).
Chinese investment in Mexico is also increasing, with many Chinese companies setting up branches in Mexico.
Clouthier said that China has “played a leading role” in Mexico’s fight against covid-19.
Mexican President Andres Manuel Lopez Obrador has expressed “great appreciation (to China) for its solidarity regarding vaccines, as well as medical supplies,” Clouthier said.
Looking to the future, Mexico and China can further improve their bilateral ties through “win-win” cooperation, she said, highlighting China’s potential in the technology and ecommerce sectors.
“I think the pandemic showed us the need to make progress in the use of ecommerce,” she said.
“Ecommerce is very beneficial for any country, and helps people who normally wouldn’t be able to export or trade.”
Meanwhile, China can take better advantage of Mexico’s privileged location to boost trade in the region, considering that Mexico links the countries in Central and South America to the United States and Canada in North America, Clouthier said.
The China-Mexico diplomatic relations were established on Feb. 14, 1972 and were upgraded to a comprehensive strategic partnership in 2013.