Mexico strengthens its relations with Latin American countries

Jose Antonio Meade, Mexican Secretary of Foreign Affairs, pointed out that a new chapter has begun in the economic and political relations between Mexico and Brazil, characterized by the development of important ties between the two countries. He stated, "For Mexico, Brazil is the most important exporting market in Latin America, and the most important destination of our foreign investment in Latin America". 

Meade added that the presence of Mexico and Brazil is essential for Latin American regional integration initiatives, highlighting that "there are no Latin American integration efforts that do not have Brazil at the core, but Latin America cannot be understood without Mexico either". 

The meeting between the Mexican Secretary and CAF's Executive President, Enrique Garcia, took place in Mexico. D.F. during the fifth production of the program Conversando con CAF (Conversation with CAF). The dialogue focused on the relations between Mexico and Latin American countries, a region that is increasingly advancing toward integration. 

At the same time, Enrique Garcia commented that the strengthening of the political and economic relations of the two largest economies in Latin America contributes to strengthen the region's position worldwide. 

In this environment of greater integration, both leaders expressed their satisfaction with respect to the reestablishment of formal diplomatic relations between the United States and Cuba. Cuba opened an embassy in the United States in July, and the opening of the US Embassy in Cuba is planned for mid-August. 

Meade expressed that this reestablishment of relations is "welcome" and "necessary", highlighting that due to their geographic proximity "few countries would benefit more from this than Mexico". 

During this dialogue on regional integration in Latin America, the subject of the Pacific Alliance could not be missed. This is an innovating integration project started by Mexico, Colombia, Chile, and Peru in 2011.

Meade highlighted that "The Alliance has been a pragmatic example which has achieved important goals in a short period of time in an environment of greater integration". He also summarized some of the most important achievements, such as the free trade agreement and the removal of the visa requirements between its members. 

Under this same perspective, Enrique Garcia, CAF's Executive President, agreed on the need for Latin America to move toward pragmatic integration schemes to advance and close the gaps that separate the region from industrialized countries. Garcia stated, "Integration must not become an ideological issue". 

With respect to Mexico's relations with countries outside the region, Meade highlighted the strengthening of commercial ties with China. He pointed out that although there is great disparity in the trade exchange between both nations, the balance is still positive. "Mexico imports more from China than it exports in terms of magnitude, but much of what we import from China becomes a part of our value chain and gives us competitiveness", he said.  

Meade added that his country aspires to create adequate conditions for China to play a more important role as investor, thus generating increasing openness for Mexican products in the Chinese market. 

The Secretary of Foreign Affairs highlighted the importance of CAF's role for Mexico, as an instance that not only provides access to financing and technical assistance, but it also provides an important space for dialogue regarding the most relevant issues for the Latin American community. 

The conversation between Garcia and Meade was also helpful to celebrate an important landmark: twenty- five years ago Mexico was the first country from outside the Andean region that became a CAF shareholder. President Garcia pointed out that "It opened the door for what CAF is today - a development bank in the region" 

To watch the dialogue between Meade and Garcia, access the website www.conversandoconcaf.com and Conversando con CAF's YouTube channel https://www.youtube.com/channel/UCu7YdkMAxIPnZYJZXlH614w