Mexico, China strengthen trade as unease grows over NAFTA’s future

Global Business

Mexico, China strengthen trade as unease grows over NAFTA's future

Mexico has been prompted to seek stronger trade ties with China in the face of the strained bilateral relations between the U.S. and Mexico surrounding the North Americas Free Trade Agreement.

CGTN’s Franc Contreras reports.

Mexico, China strengthen trade as unease grows over NAFTA’s future

Mexico, China strengthen trade as unease grows over NAFTA’s future

Mexico has been promopted to seek stronger trade ties with China in the face of the strained bilateral relations between the U.S. and Mexico surrounding the North Americas Free Trade Agreement. CGTN's Franc Contreras reports.
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In a move to strengthen trade ties with Mexico, Chinese JAC Motors has announced a $212 million partnership with a Mexican auto company to assemble Sports Utility Vehicles in Central Mexico. Company officials said production is expected to begin in late March.

In response, Mexican government officials said it will work to expand trade between Mexico and China.

“We would like to attract more Chinese investments and fortify our relationships with the great Asian country, China,” Luis Videgaray, Mexican Foreign Relations Minister said.

Mexico is seeking to change that trade balance. In recent years, it blocked the creation of a giant commercial center called Dragon Mart that would have distributed Chinese merchandise near the resort city of Cancun.

In 2015, Mexico halted construction of a major high-speed train financed by a Chinese consortium. The Mexican government had promised a $3.7 billion contract.