Hong Kong's Secretary for Commerce and Economic Development Gregory So and the Mexican Secretary for Economy Ildefonso Guajardo have announced that Hong Kong and Mexico will launch negotiations on an investment promotion and protection agreement (IPPA).
Following a meeting in Mexico City on August 26, the two governments are now to make preparations for formal negotiations, which are expected to commence in 2016.
It was said the IPPA negotiations will send a positive signal to the business communities of the two places and help strengthen investor confidence and expand two-way investment flows. Strengthening investment ties between Hong Kong and Mexico should bring mutual economic benefits.
It was added that, as Mexico is the 15th largest economy in the world, there are ample opportunities to enhance the existing flows of investment from Hong Kong to Mexico that, to date, only amount to USD49.8m.
Hong Kong is Mexico's 10th largest trading partner in Asia and the 5th destination for its Asian exports. Mexico is Hong Kong's third-largest trading partner among Latin American countries of Latin America.
The IPPA would add to the 33 such agreements that Mexico has signed with other economies, while Hong Kong has so far completed 17 other such agreements.
By Courtesy of Lowtax.net
