Mexico and China, a story of friendship and commerce

The Mexican Entrepreneurial Council of Foreign Commerce (COMCE) informed last May that the total volume of commerce between Mexico and China reached US$80 billion during 2015, after the bilateral relation entered a new stage focused on development. With this, China has become Mexico’s second major commercial partner, despite the fact that there is no free trade agreement between these two Nations, and the commercial balance still shows a shortage for Mexico, with merchandise exported to China valued at US$10 billion and imported merchandise accounting for  the rest of this volume. According to the Organization for Economic Cooperation and Development (OECD), Mexico must reinforce its association and commercial integration with China in all senses, in order to achieve greater growth rates. Mexico’s Ministry of Economy (SE) states that Mexico has major areas of export with China: tourism automobiles; copper minerals, concentrate and scrap metal; petrol crude oil; electric telephone or telegraph devices; Chemical products and materials such as plastics, rubber and leather. Besides, there are other points to be considered in order to improve the relation: agricultural products; cotton and thread spools; sea related food products, such as tuna, which is bought by Thailand; aeronautics and automotive development.