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Mexico, Viet Nam shape up as regional trade gateways

Update: September, 13/2012 - 09:10

 

Mexican ambassador to Viet Nam Gilberto Limon Enriquez
To celebrate Mexican National Independence Day, Viet Nam News presents an article by Mexican ambassador to Viet Nam Gilberto Limon Enriquez.
Mexico will celebrate the 202nd anniversary of its National Independence Day on 16th September 2012, 14 days after Viet Nam celebrated the 67th anniversary of its National Day. The President of Mexico sent congratulatory messages to President Truong Tan Sang and Prime Minister Nguyen Tan Dung on this great occasion.

Our countries established diplomatic relations 37 years ago, on 19 May 1975. Mexico attaches great importance to its bilateral relationship with Viet Nam as we consider it an important partner in East Asia. Both countries are significant economies and they have the potentiality to become gateways between East Asia and Latin American markets.

In this sense, we congratulate Viet Nam for the realisation of the Viet Nam-Latin America Trade and Investment Forum that took place in Ha Noi on 5 and 6 July 2012. The Forum provided a magnificent window of opportunity to strengthen the co-operation between Viet Nam and Latin America by promoting better knowledge and understanding among us.

Additionally, with the invaluable support of Viet Nam, Mexico was accepted to participate in the negotiations of the Trans Pacific Partnership (TPP) agreement. This Free Trade Agreement will become an excellent platform to bring Mexico and Viet Nam closer. Mexico is an export oriented economy and the 15th largest exporter in the world. Our country exports manufactured goods, oil and oil products, aircraft, vehicles, automotive and aircraft engines, servers and computers, electronic items like televisions, mobiles, industrial equipment, granite and marble, biotechnology, metals like gold, silver and tin, processed food, meats, fruits, vegetables, cotton, sugar and coffee.

 

Long-standing friendship: A view of the Popocatepetl volcano, which is the second highest peak in Mexico, is located about 70km southeast of Mexico City. — Photo Courtesy of Mexican Embassy.
But Mexico is also an important importer of goods. In 2011 our bilateral trade was about US$1 billion but the potential to increase our trade is immense and has not yet been exploited well. With our participation in the TPP this potential will be strengthened in a decisive way, taking into account that both economies are complementary. The revolution in telecommunications and new technologies is shrinking the world and, frankly speaking, this is an advantage for both countries.

There is not yet Mexican investment in Viet Nam. Geographic distance, language differences and lack of information have been the main reasons behind this. However, the great opportunities offered by Viet Nam, such as positive economic prospects in terms of growth despite the global financial crisis, a young, cheap and qualified workforce, sociopolitical stability and the decision to introduce economic reforms based on a free economy will all attract the attention of Mexican investors to this country.

On the other hand, Mexico and Viet Nam are members of important international forums like the World Trade Organisation (WTO), the United Nations (UN), the Asia Pacific Economic Forum (APEC), and the Forum for East Asia-Latin America Co-operation (FEALAC).

In conclusion, Mexico and Viet Nam are attracting global attention in terms of investment opportunities, favourable macroeconomic environments, and openness to international trade. — VNS

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