News Column

Mexico Offers to Help Spain Battle Economic Crisis

Oct. 15, 2012
Pena Nieto

Mexico on Monday offered to help Spain rise out of its deep economic crisis, with president elect Enrique Pena Nieto pledging to adopt policies to that end.

After taking office on December 1, Pena Nieto will adopt economic strategies serving "the economic development of my country, but which will also help Spain exit the crisis," he told entrepreneurs during a visit to Madrid.

Spain is one of Mexico's top trade partners and its biggest foreign investor, with 45 billion dollars invested in the Latin American country, Pena Nieto pointed out.

The president elect stressed Mexico's economic potential based on a qualified workforce, a young population, a strategic location next to the United States, modern communications and rich natural resources.

The Mexican economy is expected to grow at a rate of nearly 4 per cent this year, while Spain's gross domestic product is to contract by 1.5 per cent.

Spanish emigration to the country's former American colonies has increased due to the economic crisis.

Pena Nieto was visiting Spain during a European tour. His schedule included meetings with Prime Minister Mariano Rajoy and King Juan Carlos.

Source: Copyright 2012 dpa Deutsche Presse-Agentur GmbH

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