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Home >> World
UPDATED: 10:11, January 25, 2005
China-Mexico trade cooperation has broad prospect: vice president
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There exist broad prospects for furthering China-Mexico economic and trade cooperation, visiting Chinese Vice President Zeng Qinghong said Monday in Mexico City.

In a speech at the 14th China-Mexico business session that opened here Monday, Zeng said China is satisfied with the progress of the economic and trade relations between the two nations and is fully confident of future development.

The China-Mexico ties are entering an even more mature stage of growth and the two countries should join hands to score a new high of economic and trade cooperation, stressed Zeng, who flew in Sunday for a three-day official visit.

In the coming years, Zeng said, China's investment in Latin America will increase by a big margin following the enhancement of economic and trade cooperation between China and the region.

At present, Zeng said, the business communities of the two nations are discussing ways to further cooperate in fields of agriculture, telecommunication, energy resources, household appliances, light industry, automobile, iron and steel, and ship building.

The economic and trade ties, based on mutual trust and benefit, equality and common development, will help ensure the state-to-state ties to develop in a lasting, stable and healthy way, he said.

Describing the two countries as strategic partners and reliable friends, Zeng said the political mutual trust is conducive to deepening bilateral economic and trade cooperation.

China and Mexico, both in a period of fast economic growth, are complementary in technology, investment, natural resources and commodities, Zeng said, noting the two can achieve a win-win situation by learning from each other's strong points to offset its own weakness.

The two governments attach importance to bilateral ties and the business communities of the two countries are eager to strengthen mutually beneficial cooperation against the challenges of globalization, Zeng said.

Zeng said economic and trade cooperation between the two countries gained new momentum last year, with bilateral cooperation being broadened, trade volume increasing rapidly and investment expanding.

Mexico has become China's second largest trade partner and one of its main investment receivers in Latin America. Bilateral trade exceeded 7 billion US dollars last year, 44 percent higher than the previous year, and China's investment in Mexico rose to nearly 200 million US dollars.

More than 200 business leaders and government officials, including Mexican Secretary of Economy Ramon Canales Clariond, attended the business session.

Canales said there are vast investment and market potential for economic and trade cooperation between the two countries. He hoped his country and China can strengthen contacts and exchanges.

At the session, the China Council for the Promotion of International Trade and a Mexican committee on foreign trade, investment and technology also signed a cooperation agreement.

Zeng is scheduled to leave here for Cancum in southeast Mexico on Tuesday before winding up his Mexico tour on Jan. 26.

Mexico is the first leg of Zeng's five-nation visit to Latin America and the Caribbean, which will also take him to Peru, Venezuela, Trinidad and Tobago, and Jamaica.

Zeng is also scheduled to attend the opening ceremony of the first ministerial-level meeting of the China-Caribbean economic and trade cooperation forum on Feb. 2 in Kingston, capital of Jamaica.

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