Trade Minister Craig Emerson will today hold talks with his Mexican counterpart, Dr Bruno Ferrari, who is leading a delegation to Australia to discuss trade, investment and Mexico's organisation this year of the G20 Summit.
Today's meeting comes amid two days of official talks between the two countries within the Australia-Mexico Joint Trade and Investment Commission. This was established in 1994 and last convened in April 2010.
Mexico is Australia's largest trading partner in Latin America, as well as a member of the Asia Pacific Economic Co-operation (APEC) forum.
Mexico last year also formally declared an interest in joining talks on the Trans-Pacific Partnership. Japan and Canada have also expressed interest in becoming part of the TPP negotiations.
"This would represent a big step towards realising APEC's ambitions for a Free Trade Area of the Asia-Pacific," Dr Emerson said.
Dr Emerson said there was broad scope for expansion in Australia's trade and investment relationship with Mexico.
More than 100 Australian companies either export to, or operate in, Mexico," Dr Emerson said, "and there is great potential for Mexican companies to invest here."
Dr Emerson and Dr Ferrari are also expected to discuss Australia's "new pathway" proposal to break the deadlock on the Doha Round of global trade talks, and Mexico's plans to host a G20 Trade Ministers' meeting in April.
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