Mexico (VNA) – The ASEAN Committee in Mexico City (ACMC) in coordination with the Mexican Business Council for Foreign Trade, Investment and Technology (COMCE) organised a workingvisit to Michoacan state from October 25 – 28 in order to promote trade andinvestment ties between ASEAN countries and this locality.

The ASEAN delegation, consisting of representatives from the embassies of Indonesia,Malaysia, the Philippines, Thailand and Vietnam, had working sessions withGovernor of Michoacan state Alfredo Ramirez Bedolla and officials of the two cities of Morelia and Patzcuaro.

Governor Bedolla and local officials highlyvalued the possibility of enhancing cooperation in all aspects with ASEAN,especially in economic, tourism, agriculture and seaport development, thus helpingMichoacan in particular and Mexico in general diversify export markets andattract more foreign investment.

Michoacan’s officials and businessmen discussed cooperation opportunities in economy,trade and investment between Mexico in general and the locality in particularwith ASEAN.

According to statistics from the Secretariat of Economy of Mexico, combined trade turnover between Indonesia, Malaysia, thePhilippines, Thailand and Vietnam with Mexico in 2020 reached over 28 billionUSD.

In his speech at the event, Vietnamese Ambassador to Mexico Nguyen HoanhNam, who is also rotating Chairman of ACMC, emphasized the potential forbilateral cooperation between Michoacán in particular and Mexico in generalwith ASEAN in the spheres of agriculture and manufacturing industry, informationtechnology, investment, education, tourism and seaport logistics. He affirmedthat ASEAN is a gateway for Mexican goods to make inroads into the Asianmarket.

Regarding the potential of trade between Vietnam and Mexico, the Vietnamesediplomat said Mexico is one of the important markets of Vietnam in LatinAmerica.

He called on businesses to strengthen connectivity and take advantage of benefitsbrought by free trade agreements (FTAs), especially the Comprehensive and ProgressiveAgreement for Trans-Pacific Partnership (CPTPP), to further expand tradeand investment cooperation.

Mexico is currently the second largest trade partnerof Vietnam in Latin America, while Vietnam is the 8th most importantimport-export market of Mexico in Asia. According to the Vietnamese Ministry ofIndustry and Trade, two-way trade between Vietnam and Mexico in the first fourmonths of 2021 reached over 1.45 billion USD./.