The Ambassador of Mexico, Arturo Hernandez Basave, has urged the Pakistani business community to develop their trade and set up their industries in Mexico, as it provides a direct and easy access to the US and Canadian markets with which Pakistan has 90 per cent of its trade. The Mexican Ambassador stated this while speaking at Lahore Chamber of Commerce and Industry (LCCI) on Wednesday.
He said that Mexico has Free Trade Agreement (FTA) with as many as 12 countries which itself is a big opportunity for all the developing countries, including Pakistan as Mexico is concentrating on diversification of economic activity.
Both the sides should work on new methodologies to explore new area of business co-operation, he added. Commenting on political ups and downs the Ambassador said that political situation here was not an impediment in enhancing business between the two countries. He said that Pakistans strategic location had always been of great attraction for potential foreign investors but to bring more investment Pakistani businessmen would have to strengthen their trade relations with other countries.
Speaking on the occasion, the LCCI President Mian Muzaffar Ali said that both Pakistan and Mexico have abundant natural resources, skilled manpower and good manufacturing capacities but none of the two countries is taking full advantage of these resources. The era of traditional trade is now over and the immediate demand of the new millennium is new markets in the countries of similar structure.