Financial Daily from THE HINDU group of publications
Saturday, Apr 13, 2002
Industry & Economy
Mexico initiative for trade data panel
KOLKATA, April 12
THE Mexican Ambassador to India, Mr J.F. Carlisle, is taking the initiative to form a committee of Indian and Mexican entrepreneurs for exchanging information on trade and industry.
At a meeting with the members of the Indian Chamber of Commerce he said that this committee would be the centre for consultations among the different members. However, neither the name of the organisation nor its articles of agreement had been finalised.
The formal announcement of this organisation will be made on May 8, when the Mexican Minister for Economics, Mr L.E. Derbez, visits New Delhi to meet several senior Indian Ministers, including Mr Murasoli Maran, the Union Commerce Minister.
The Mexican Ambassador also said that sometime ago there used to be an Indo-Mexican Chamber of Commerce and he was trying to collect documents and information of this industry body for historical purposes.
Mr Carlisle discussed at length about the Mexican economy and how it gained after signing the North American Free Trade Agreement, popularly called NAFTA.
``However, being a neighbour of the world's largest economic giant, the US, most of our market is captured by American products'', he said.
So he wished that Indian and Mexican industrialists must interact regularly for further cooperation. Incidentally, a delegation from the PHD Chamber of Commerce & Industry is scheduled to visit Mexico this year.
Recognising the supremacy of the Indians in the infotech sector, he invited the Indian IT entrepreneurs to set up offices in his country. He also invited Indian pharmaceutical and textile companies for the same purpose.
When informed that Mexican films were popular in India, Mr Carlisle said that talks were on with a section of film industry located in Mumbai for Indo-Mexican production. ``It is likely to be co-production between the two countries'', he said.
The bilateral trade between India and Mexico, currently, is highly in favour of India. While it exported goods worth $207 million in 2000-01, Mexican imports were a meagre $48 million.
Mr H.V. Kanoria, Vice-President of the Chamber, said these figures did not really account for a large share of external trade in both the countries.
``There is ample scope to improve the bilateral trade volume'', he said.
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