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(Jan 27, 2012)
China is seeking a free trade agreement with Mexico in order to strengthen relations between the two nations. Chen Yuming, the economic and commercial counselor of the Embassy of China in Mexico, stated that "in order to negotiate an agreement, we must have equal treatment with the precondition that there be a recognition of market economies, and Mexico is unwilling to accord that status to China," he emphasized. (Propone China TLC con México, REFORMA (Dec. 29, 2011) [enter article heading in search; registration required].)
At present Mexico has a considerable trade deficit with China, as, according to Banxico, Chinese exports to Mexico amounted to US$42,566,000 for the first ten months of 2011, while sales of Mexican goods in China were just US$4,681,000 during the same period. "China understands the concern on Mexico's part about the bilateral trade deficit. It is not our intention to have the trade surplus. We are willing to encourage Chinese companies to import goods from Mexico and encourage more of our companies to explore investment opportunities in Mexico," Chen stated. (Id.)
China's new resolve to improve relations between the two countries comes in the wake of a letter sent by the Mexican government to Chinese authorities to report the situation of unfair trade with respect to certain products of Chinese origin. In response, the Government of China worked out a series of commitments for collaboration with Mexico, in order to normalize the flow of goods between the two nations. These commitments include the establishment of a working group to monitor the situation and to enhance cooperation between customs authorities. (Id.)
"China hopes that Mexico will provide details of unfair practices committed by Chinese enterprises in bilateral trade, and once these allegations are verified, the Government of China will address them following the laws," Chen stated. (Id.)
|Author:||Norma Gutierrez More by this author|
|Topic:||Foreign trade and international finance More on this topic|
|Jurisdiction:||Mexico More about this jurisdiction|
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Last updated: 01/27/2012