The Secretary for Commerce and Economic Development of Hong Kong, Edward Yau, met with the Minister of Economy of Mexico, Ildefonso Guajardo, on the 27th (Mexico City time August 26) in Mexico City, announcing that the two regions will initiate negotiations for an Agreement on the Promotion and Protection of Investments.
Mexico is an emerging market with significant development potential, offering numerous business opportunities for overseas investors. In 2014, Mexico was the fifteenth largest economy in the world and Hong Kong's second largest trading partner in Latin America. Concluding an Agreement on the Promotion and Protection of Investments can strengthen the economic and investment ties between Hong Kong and Mexico, allowing both economies to benefit together.
The governments of both regions will conduct preparatory work, with formal negotiations expected to commence in 2016. The negotiations will send a positive message to the business communities of both regions, helping to enhance investor confidence and expand investment flows between the two places.
Hong Kong has signed seventeen Agreements on the Promotion and Protection of Investments with other economies to date. These economies include the Netherlands, Australia, Denmark, Sweden, Switzerland, New Zealand, Italy, France, Germany, Belgium-Luxembourg Economic Union, Austria, Japan, South Korea, the United Kingdom, Thailand, Finland, and Kuwait.