Mexico is participating in the symposium on opportunities and challenges of the Trans-Pacific Partnership Agreement (TPP)
On September 24th, 2016, Ambassador Carlos Felix Corona participated as a panellist in the biannual symposium “King´s Discourse” organized by King's College London and the University of Columbia, as part of the actions of public discussion to analyse the opportunities, challenges and consequences of Transpacific Partnership Agreement for Malaysia and the other member countries.
Ambassador Carlos Felix Corona said that the strengths of Mexico, as one of the most open economies in the world and highlighted business and investment opportunities that would be opened for Malaysia in the Mexican market, once it enters into force the agreement. He noted that Malaysia is the 9th largest trading partner of Mexico, 1st in Southeast Asia, 4th and 7th in Asia provider of Mexican industry, with a total trade of 7,585.3 million DLS. Also, he mentioned the experience of several global Mexican companies established already in Malaysia as CEMEX, GRUMA and Kidzania.
Ambassador Carlos Felix Corona used as an example the transformation of the Mexican economy with the entry into force of NAFTA and also referred to the participation of Mexico in free trade.
He said that despite protectionist tendencies, globalized and interdependent economy of the twenty-first century is based on various free trade agreements as instruments for promoting growth and development of the economies participating in these agreements such as the TPP. He also noted that free trade agreements are only part of the public policies of governments that should be complemented by additional reforms to create the best conditions of competition in each participating economy as well as those to boost productivity and higher profits for companies member countries, as it has been the case in Mexico with the approval of profound structural reforms.
The symposium was attended by a large number of representatives of various chambers of commerce, as well as managers from different sectors of the Malaysian economy, officials from the Ministries of Industry and Trade and the World Bank.