Secretary for Commerce & Economic Development Gregory So and Mexican Secretary for Economy Ildefonso Guajardo announced after their meeting in Mexico City yesterday that Hong Kong and Mexico will launch negotiations on an investment promotion and protection agreement.
The two governments will make preparations for formal negotiations, which are expected to commence in 2016.
The negotiations will send a positive signal to the business communities of the two places, and help strengthen investor confidence and expand two-way investment flows.
Mexico is an emerging economy with tremendous potential for development, offering ample business opportunities for overseas investors.
In 2014, Mexico was the world's 15th largest economy and ranked second among Hong Kong's trading partners in Latin America. The agreement will strengthen the economic and investment ties between the two places, bringing mutual economic benefits.
Mr So also met with ProMexico Investment Promotion & International Business Unit Head Mario Chacon Carrillo, to discuss bilateral trade and investment promotion, and called on Chinese Ambassador to Mexico Qiu Xiaoqi.
At a meeting with the Mexican Automotive Industry Association and the National Industry of Auto Parts, Mr So noted that Hong Kong's comprehensive knowledge of the Mainland market provides plentiful areas for co-operation and collaboration between Mexico and Hong Kong in auto parts research and development, and for commercialisation of the developed products.
