Ministry seeks to further grow trade
Updated: 2013-06-05 23:33
By BAO CHANG (China Daily)
Industrial cooperation and communication between Chinese and Mexican companies should be promoted to boost trade and reduce trade friction, the Ministry of Commerce said on Tuesday.
"China and Mexico have similar industrial advantages, and the trade complementarity is not strong enough, so we should find a good way to further increase trade between the two countries," the ministry's department of American and Oceanian Affairs said.
Mexico is China's second-largest trading partner in Latin America, the second-biggest exports market and the fourth-largest source of imports in the region. In 2012, trade between China and Mexico was $36.7 billion.
"Economic and trade cooperation between China and Mexico is developing faster than ever, and as the Latin American market further opens up, growth of bilateral trade between China and Mexico will surge," ministry spokesman Shen Danyang said.
In recent years, Mexico's exports to China grew more than its imports from China. Exports of crude oil, agricultural products and automobiles to China increased rapidly.
"In 2011, Mexico's exports to China exceeded its total exports to Japan, India and South Korea that year," Shen said.
"China's exports to Mexico are mainly semifinished products and mechanical equipment that can be processed by companies in Mexico and re-exported to other countries, said Zeng Gang, China's ambassador to Mexico.
"The high added-value of the trade module is beneficial to Mexico."
In addition, Chinese international contractors won construction contracts totaling $3.65 billion in Mexico.
However, trade disputes between the two countries have been increasing in the past two years. Mexico has launched anti-dumping investigations on some Chinese products, including synthetic fiber blankets, seamless steel pipes and shoes.
To ease trade conflicts in these industries, the two countries should promote cooperation and communication between industry associations and enterprises, the ministry said.