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Mexico: Country seeks a closer economic relationship with China

Author: Yahoo Finance, Published on: 8 July 2019

“Mexico seeks closer China business ties during testing time on trade”, 29th June 2019

…Mexico wants to deepen economic ties with China by increasing its exports and attracting more investment from the Asian country, Mexican Foreign Minister Marcelo Ebrard said…This was "very clear" in the case of China, where Ebrard said he would be giving priority to expanding business ties during his visit there at the start of next week.”...Mexico sends around 80% of its exports to the United States, and is eager to sell more to other countries to reduce its economic dependence on its neighbor…During the summit, Ebrard said, Trump had told him "(the United States) had good signs that things were going well" in Mexico's bid to cut the flow of mostly Central Americans seeking to cross the U.S. border…Despite that, concern in business circles about the Lopez Obrador administration's ability to attract investment grew last week when Mexican state power utility CFE said it wanted to get "fairer" terms for contracts signed under the last government. That drew criticism from Canada, whose government voiced its concerns at the G20 about the CFE's desire to revisit a major pipeline contract involving a Canadian firm, Mexican Finance Minister Carlos Urzua said.

Read the full post here

Related companies: Comisión Federal de Electricidad (CFE)