THE FOREIGN MINISTRY HOLDS A SEMINAR ON OPPORTUNITIES IN THE MEXICO-RUSSIA RELATIONSHIP

• Trade between the two countries has grown over 200 percent in the past two years.

• Russia is now the third largest export market for Mexican meat products.

The Directorate General of International Cooperation and Economic Development of the Mexican Agency for International Development (AMEXCID) organized a seminar on "Opportunities in the Mexico-Russia Relationship." The event was chaired by Mexico’s new ambassador in Russia, Ruben Beltran.

 Representatives from various Mexican companies interested in doing business with Russia, from the Mexican Business Council for Foreign Trade, Investment and Technology (COMCE) and ProMéxico attended.

In the last three years, the economic relationship between Mexico and Russia has expanded significantly in the areas of tourism, trade and investment. Particularly, over the last two years, bilateral trade increased by 219 percent. Russian tourism to Mexico has increased from 27,000 in 2010 to 42,000 in 2011 and nearly 45,000 in the first half of 2012. This increase has been made possible in part by the establishment of several direct flights between the two countries.

This dynamism can also be seen in exports such as food and beverages, pharmaceuticals and auto parts. As a result of these trends, Russia has become the third largest export market for Mexican meat.

The private sector representatives at the seminar stressed the great potential of the two emerging economies, especially in strategic sectors such as the energy, automotive, food and high value-added industries. There was a fruitful exchange of experiences on best practices to drive business with Russia.
This seminar arises from the instructions of President Enrique Peña Nieto that foreign policy must contribute to Mexico’s goals in the five strategic areas he has outlined, including promoting development through trade, reciprocal investment and cooperation with priority countries, as well as ensuring that Mexico acts with global responsibility.

Seminars such as this one will serve the new Mexican ambassadors as guides for bilateral promotion and for helping the Mexican business sector to better penetrate the global market.

Alejandro Hinojoso, Executive Director of International Promotion at Promexico, also participated in the seminar.