News Column

US-backed Pacific Trade Pact Could Be Good for Mexico, Nieto Says

April 9, 2013

Visiting Mexican President Enrique Pena Nieto said Tuesday that his country and Japan would gain many advantages by joining a Pacific trade accord backed by the United States.

The Trans-Pacific Partnership (TPP) talks involve 11 nations including Australia, New Zealand, Vietnam and Chile. Mexico formally joined the negotiations in November, along with Canada.

"Needless to say, it will bring about very important integration" of the American and Asian continents, Pena Nieto said in Tokyo.

Prime Minister Shinzo Abe announced Japan's intention to join the talks last month despite strong opposition from farmers and consumer groups.

On Monday, Pena Nieto announced his country's support for Japan's entry into the negotiations when he held talks with the premier.

Japan's participation would mean that other participating nations could learn from its economic competitiveness, the Mexican president said during his speech on Tuesday.

The Asia-Pacific region has many opportunities and promises, Pena Nieto said. Thus, "we want to deepen our relations of trade as well as investment and also academic exchanges with the region."

"Japan is a very important player in the Asia-Pacific region, so the aims of the TPP are to strengthen relations between the American continent and the Asian continent," he said.

Japan's participation would be a "very important key" to that framework, he stressed.

On Tuesday, Pena Nieto also met political and business leaders and called for more investment by Japanese companies in his country.

"For Japanese companies, Mexico is a very important country as a market and a production base," Hiromasa Yonekura, chairman of the Japan Federation of Economic Organizations, was quoted by public broadcaster NHK as saying.

"We would like to strengthen and expand the relationship through the participation in the TPP," Yonekura said.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters