Why Mexico really does matter

By Webmaster

August 17, 2010

Mexico is set to be one of the largest economies in the world by 2050. A senior financial services delegation from Mexico is in the UK this week to discuss the enormous opportunities and potential areas of mutual interest.

The “Mexico Matters” event, taking place at the Mansion House on 8 July, will hear from Mexico’s Finance Minister, Ernesto Cordero, as well as British Foreign Office Minister Jeremy Browne.

The Ministers will be joined at the event by the British Ambassador to Mexico, Judith Macgregor, Mexico’s ambassador to the UK, Eduardo Medina Mora, Lord Mayor of London, Nick Anstee, and many other senior figures from both nations’ financial services, legal and insurance industries.

Judith Macgregor, British Ambassador to Mexico, says:

"There are great opportunities for British financial services in Mexico, for Mexican companies to list on the London exchanges and, importantly, as a market for legal services. I hope more Mexican companies will realise the benefits that the UK financial services sector, in particular London, can offer as a source of international finance and a balanced regulatory environment."

Eduardo Medina Mora, Mexican Ambassador to the UK, says:

“Mexico offers unique advantages given its infrastructure, qualified human resources, engineers and access to different markets.

Sir Andrew Cahn, chief executive officer of UK Trade & Investment, says:

“Mexico is already the UK's second biggest trading partner in Latin America after Brazil, with the bilateral relationship between Mexico and the UK worth more than £2bn a year. But with Mexico’s economy set to become one of the largest in the world in the coming decades, now is the time to start thinking about taking advantage of the opportunities ahead.”

Dr Bruno Ferrari, Director General of ProMexico, says:

"Mexico has many advantages: its location, its internal market, its safe environment to do business, low operation costs and capabilities in diverse productive sectors, and it is also facing certain challenges, which are being addressed with courage and integrity. We are reviewing the rules of the game to create better business opportunities, to clarify and to simplify procedures and to ensure sustainable development in the long term."

Nick Anstee, Lord Mayor of London, says:

“This week Mansion House is hosting a major conference designed to build ties with senior representatives from the Mexican government and business community. I look forward to strengthening this partnership in October when I lead a City business delegation to Mexico City.”

The day-long event will also hear from the heads of the London and Mexican Stock Exchanges, the Presidents of the Law Society and the Mexican Bar Association, and from Lord Levene, Chairman of Lloyd’s of London.

Factfile

• UK investment into Mexico has steadily increased since 1999, reaching a cumulative $7.3bn in 2010.
• The UK is Mexico’s 13th trading partner: the 11th biggest importer of Mexican goods and 15th exporter to Mexico.
• Trade between Mexico and the UK increased 122% from 2000-2008.
• Within the EU, the UK is Mexico’s 5th trading partner and the 3rd largest investor in the country.
• There were 1,039 British companies registered in Mexico in 2009, up from 820 in 2007.
• Mexican economy is predicted to grow by 4.2% this year.
• The Economist and Goldman Sachs have predicted it will be one of the largest economies in the world by 2050
• Mexico has already used the PPP model of financing and currently has 19 PPP projects either completed or pending.
• Mexico has free trade agreements with more countries than almost any other in the world.

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