Mexico should continue diversifying its market and look towards China and other countries in order to reduce its trade reliance on the United States, said Mexico's former President Vicente Fox.
During an exclusive interview with Xinhua on Friday, the politician from the National Action Party said this would allow trade relations to transform and improve and "reduce the dependency we have on the United States."
"We have to diversify so that we won't depend on just one basket or one country," said the former president in his San Cristobal ranch in the central state of Guanajuato where he joined a forum titled Culture, Information Technology, Energy and Knowledge.
Fox noted that despite the fact that Mexico is one of the countries with the highest number of free trade agreements, the United States is still its main partner, and Mexico is sending almost 80 percent of exports to its northern neighbor. He said China and Mexico could strengthen their trade for mutual benefits.
Fox said that in terms of technology, China "has moved at a great speed in production capacity and also with efficiency." He noted that a market "of over a billion inhabitants ... is a super market for Mexico."
Since 2013, Mexico and China have put in place mechanisms to promote bilateral and permanent dialogue on key economic issues, including a high-level bilateral work group that meets annually to oversee trade promotion, and cooperation in industry and mining. A similar group focuses exclusively on investment.
On the sidelines of the recent Group of G20 summit held in the eastern Chinese city of Hangzhou, the presidents of Mexico and China, Enrique Pena Nieto and Xi Jinping agreed to expand their comprehensive strategic partnership.
Mexico is ready to cooperate with China in investment, finance, tourism and special economic zones, and intensify communication and coordination with China in international affairs, Pena Nieto said.
Last month also witnessed Mexico's first ever shipment of pork to China.
To Mexican Agriculture Minister Jose Calzada Rovirosa, exporting meat to China reflects Mexico's progress in this sector.
Throughout history, "it is the first time Mexico shipped pork to China," he said, describing the day the shipment went out as "special."
Mexico also exports avocado, berries, tequila, and other products to China, but opening up China's market to Mexican pork is expected to boost trade significantly, according to the minister.
Fox said that South America and India should also be in Mexico's sight without neglecting the United States and Canada. He thinks the North American Free Trade Agreement (NAFTA) should continue benefiting Mexico and its partners.
