UK minister travels to Mexico to strengthen trade ties

Industry News | | MIC Customs Solutions |

The UK's minister for trade and investment Lord Price has travelled to Mexico to explore ways of improving the trade relationship between the countries.

The UK's new minister for trade and investment is travelling to Mexico to discuss potential measures to improve the trade relationship between businesses in both countries.

Lord Price, who succeeded Lord Maude in the role in February, is attending a meeting of the Senior Business Leaders Group in the country, a body that brings together senior executives from leading British and Mexican companies to identify ways to overcome barriers to trade.

He will meet with a number of key Mexican government ministers, including those for transport and communications, economy and finance, as well as business leaders from both nations.

The visit is designed to underline the British government's support for exporters and its efforts to reach a target of getting 100,000 more companies exporting by 2020. Mexico, which is the UK's largest food and drink trading partner in Latin America, could be a key part of this.

Mexico is the second largest economy in the region, with a market of 112 million people. Bilateral trade between Mexico and the UK topped £3 billion (€3.71 billion) in 2014, with British exports of goods having increased by 55 per cent between 2011 and 2015.

Lord Price said: "This visit is a great opportunity to hear first-hand from business about how the government can further support those looking to export - including through our Exporting is GREAT campaign - and look at ways to continue to attract investment from Mexico into the UK."

The Senior Business Leaders Group was formed during the Mexican president's state visit to the UK in March 2015 and is indicative of the wider efforts to provide companies in the two countries with more opportunities to trade and work together.