CII signs pact with Mexican business council

Calcutta News.Net
Saturday 8th September, 2007

Ahead of Mexican President Felipe Calderon Hinojosa's visit here, the Confederation of Indian Industry (CII) has signed a pact with an industry lobby of the Latin American country to push bilateral trade and investment ties.

The memorandum of understanding with the Mexican Business Council for Foreign Trade, Investment and Technology aims to strengthen the growing business ties between the two major emerging economies, a CII statement said.

The pact also calls for extending information to the businesses of both sides and facilitate trade and investment opportunities, besides promoting cultural relations between India and Mexico.

Supriya Banerji, deputy director general of CII, and Luis Wertman, chairman of the Mexican business council, signed the pact on behalf of their respective sides.

More than 100 top corporate leaders are part of President Hinojosa's business delegation and some have already arrived in the capital. The president arrives here Sunday on a four-day visit that also takes him to Mumbai and Bangalore.

Bilateral trade between India and Mexico stands at $1.8 billion, of which $1.1 billion consisted of India's exports, mainly comprising engineering goods, chemicals, pharmaceuticals, gems and jewellery and textiles.

Crude oil comprises 90 percent of India's imports from Mexico.

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