The Free Trade Agreement, concluded in 1999 between the two countries, has tripled bilateral trade; from just over one billion dollars over three billion dollars, they agreed.
The Mexican market’s potential makes it one of the most important in the world: Michelle Bachelet.
President Enrique Peña Nieto said today that the government’s structural reforms, “Are the best protective measure, the best armor, the best way to protect our economy and boost the capacity to overcome adverse scenarios such as those the world is experiencing”.
He added that reforms are also the best way, “To enhance our strengths, our competitive advantages and open up spaces of opportunity for businessmen and entrepreneurs from Mexico and abroad”.
“Regardless of whether people appreciate the wealth, size and importance of the political reform we have undertaken, in Mexico and the government, we are convinced that is the best way to build our capacities and cope with adverse scenarios", he declared.
He declared his government’s commitment to “Act with great responsibility, to continue to promote the achievement and implementation of the reforms we have promoted in Mexico, so that they provide the best protection for our economy,” and the best way to address an, “Environment of economic slowdown in different regions, lower growth than expected in other countries and regions and great financial volatility".
During his participation in the Chile-Mexico Trade and Investment Forum , as part of Chilean President Michelle Bachelet’s state visit to Mexico, which was attended by businessmen from both countries, the Mexican president said that both nations have great similarities and share values, “Particularly in favor of free trade, democracy, and playing an active role in engaging in global trade”.
He added that if we wish to consolidate the stability of our economies, enhance our strengths, it is precisely “The implementation of the reforms that both countries have undertaken that will enable us to overcome adverse scenarios in the world and consolidate development in our economies.”
He said that all this comprises Chile and Mexico’s shared aim to “Achieve economic growth and stability, and for this to provide more opportunities for our societies".
The president said that Mexico and Chile are two countries that participate in various multilateral forums. He recalled that the Free Trade Agreement signed in 1999 between the two countries has tripled bilateral trade, “From just over one billion to over three billion dollars”.
He added that the two countries are members of the Pacific Alliance, an innovative mechanism in the region, which, “Not only seeks to liberalize trade, but also focuses on the free movement of people and shared capital markets, in which our entrepreneurs are the engine that lends vitality to this important Pacific Alliance that Chile and Mexico form with Colombia and Peru".
He said that the Pacific Alliance, “Is particularly important to the trade we conduct in the region, but also because of the potential of this mechanism to converge on increased trade with the Asia-Pacific región".
The Mexican president explained that Chile and Mexico have achieved “Levels of development that make us very similar, which is why the efforts our two governments are making to boost the development of our economies, make them more dynamic, and provide welfare conditions for our societies, are particularly important".
He stated that in Mexico, “We have undertaken structural reforms that had been postponed for several decades and that are the result of democratic political development of our country”.
He noted that in Mexico, in the political arena, “We undertook a transformation to achieve greater openness to make room for more political competition, to be consolidated as a full democracy, and we are precisely on this route and we have achieved this status”.
He said that, “We have gone from having a closed economy to one of the world's most open economies, like Chile.” In addition, he continued, “We have undertaken reforms that allow us to strengthen our democratic institutions, expand Mexicans’ rights in an issue as sensitive and as important as the right to a quality education".
At the same time, he added, “We have implemented reforms to influence the growth of our economy: telecommunications, energy and antitrust reforms; a labor reform to make this market more flexible, all of which is borne out by the levels of job creation we are having in Mexico”.
MEXICO, LIKE CHILE, IS ENGAGED IN THE TASK OF ENSURING QUALITY EDUCATION AS A MATTER OF JUSTICE, SOCIAL MOBILITY AND PRODUCTIVITY: MICHELLE BACHELET.
“I wish to reaffirm our interest in the Mexican market, both because of its current presence and its potential, which places it among the world’s most important markets,” declared Chilean President Michelle Bachelet.
“From the Chilean point of view, the Mexican market provides attractive business opportunities. Some have already been consolidated with an interesting diversification of the export basket. Furthermore, it is an important target market also for many small and medium enterprises, one of our development priorities", she added.
President Bachelet declared that Chile sees Mexico as a strategic ally and considered that all the conditions are in place to re-launch the relationship. ”Trade and investment have developed freely and when there has been any kind of controversy, it has been successfully resolved by the institutional framework of the Free Trade Agreement,” she said.
President Bachelet recalled that the relationship between the two countries rose to higher levels when the Strategic Partnership Agreement was signed in 2006, “As a result of which political dialogue and cooperation between our countries were added to the economic pillar".
She said that last year marked the 15th anniversary of the Free Trade Agreement (FTA), “And the facts speak for themselves: as a result of the liberalization of 98 percent of trade, trade between our countries has grown persistently, standing at $3.8 billion USD by the end of last year.
She mentioned that the FTA helped increase the possibility of direct investments. “Those from Mexico amounted to almost two billion dollars, while the Mexican market has accumulated a stock of Chilean investments work $1.5 billion USD, with about 85 companies installed”.
The Chilean president said that we cannot afford to waste any more time in education and innovation, “We need to move more decisively, which is why Mexico and Chile are engaged in this task of ensuring quality education for each of their children, as an issue of justice and social mobility, but also as an essential issue involving economics competitiveness and productivity".
She declared that, “Latin America’s economic potential is huge and both Mexico and Chile can be agents of change, not only for our countries but also for the development of our continent" and urged both nations to “jointly strengthen this path of progress to advance greater development with better expectations for all our peoples.”