Speech
at a the launch of Doing Business in Mexico
11 December 2002
Doing Business in Mexico
Introduction
Thank you very much Bernard; Ambassador Steger, Council on Australia-Latin
American Relations (COALAR) members, ladies and gentlemen.
I am pleased to have the opportunity today to launch COALAR's new
publication Doing Business in Mexico, the third
in a series of guides on doing business in Latin America.
The Government is committed to expanding trade and economic links
with the region and in March last year established the Council on
Australia-Latin American Relations (COALAR) to assist with the challenge
of supporting and promoting the efforts of Australian exporters and
investors in Latin America.
COALAR brings together senior Australian business people - led by
the dedicated and enthusiastic Chair, Bernard Wheelahan - all committed
to finding new ways to further engage Australia with Latin America.
One of the means towards improving ties is better mutual understanding.
COALAR's publications contribute to that important goal by enhancing
the Australian business community's appreciation of the vast Latin
American market.
Indeed the authors of COALAR's latest report Doing Business in
Mexico, Frank Unger and Roger Frankel - both with us today
- have done a fine job in providing a very readable guide not only
to the opportunities, but also to the way business is done in Mexico.
Bilateral Relations
The release of a guide to doing business in Mexico is timely. Relations
between Australia and Mexico are intensifying on all fronts, but
particularly on the business front.
As you may be aware, I have been to Mexico three times, including
twice this year - most recently for the APEC Summit which the Prime
Minister also attended.
On my visits to Mexico, I have been greatly impressed by the vitality
of the country, and excited about the opportunities it presents for
Australian trade and investment.
Indeed, nowhere else in Latin America is there the potential for
trade and investment growth more evident than in Mexico, the world's
ninth largest economy, the leading economy in Latin America, and
Australia's main trading partner in the region.
So I am pleased to say that relations between Mexico and Australia
have never been stronger.
This year alone, there have been six ministerial visits to Mexico,
including:
- Treasurer Peter Costello;
- Foreign Minister
Alexander Downer;
- Minister for Industry,
Tourism and Resources, Ian MacFarlane;
- Minister for Family
and Community Services, Amanda Vanstone; and myself on two occasions.
And, of course, the Prime Minister, who had a very productive bilateral
visit to Mexico City after the APEC meeting last month.
We have also had several high-level visits from Mexico this year.
Most recently, my good friend, Economy Minister Luis Ernesto Derbez
came for the WTO and the Australia-Mexico Joint Trade and Investment
Commission meetings.
This year has also seen the signing of two major agreements:
- the Double Taxation
Agreement, welcomed by both Australian business in Mexico and
Mexican business in Australia; and
- the Memorandum of
Understanding on Cooperation in the Mining Sector, which I am sure,
will lead
to a number of joint projects over coming years.
We are also close to signing an Investment Promotion and Protection
Agreement that will enhance investor confidence in both our economies
and further intensify our fast-growing trade and investment relationship.
We have identified four particular sectors where we can cooperate
formally to our mutual benefit: energy, science and technology, education
and culture.
A Mexican delegation will visit Australia later this month to discuss
cooperative projects under the auspices of the Framework Agreement
on Science and Technology.
Another delegation may visit to explore energy-related matters.
To expand education linkages, we are working with private providers,
universities and state governments to attract more Mexican students.
A high-level Mexican delegation will come in the first quarter of
next year to examine best practice in teaching.
On the cultural front, Australia was a feature country at the 2001
Cervantino Festival, Mexico's largest international cultural event.
In recognition of our steadily developing ties in these areas, Australia
and Mexico have commenced discussions on a Framework Agreement on
Education and Culture.
A growing trade relationship
As the Minister for Trade, I am particularly pleased that, last
financial year, for the first time, two-way trade between Australia
and Mexico reached the A$1 billion mark.
Two-way trade has now more than doubled in the past five years.
It's important to note that Australian exports to Mexico are not
limited to the traditional coal, wool, meat and livestock sectors,
but increasingly include the higher-value-added technology sectors.
Indeed Australia has much to offer Mexico through our world-class
services and cutting-edge technologies.
Last September for example, Treasurer Peter Costello and the Governor
of the Bank of Mexico, Dr Ortiz, launched a new 20 peso note which
uses polymer technology developed in Australia.
You could say that we have truly made it in the Mexican market.We
are exporting pesos to Mexico!
I am pleased to note that Mr Myles Curtis, Managing Director of
Securency, the Australian company that developed the technology,
is here with us today.
Likewise, opportunities exist for Mexican companies in Australia. Already,
Mexico's Corona beer is the leading imported bottled beer in Australia.
And Australia's experience in this part of the world makes us a
natural partner for Mexico in its efforts to further develop trade
with Asia.
Conclusion
Ladies and gentlemen,
Now, more than ever before, the relationship between our two countries
offers tremendous opportunities for Australian business to enter
the growing Mexican market.
The Australian Government remains committed to tapping this potential.
We will continue to improve the framework for expanding our commercial
relations, to promote and support Australia's interests in Mexico
and to encourage awareness of each other's potential.
Doing Business in Mexicois an important contribution to Australia's
agenda, and provides a valuable resource for business and government
alike.
I reiterate my congratulations to the authors and COALAR and I commend
the report to you.
I would now like to invite you now to raise your glasses of tequila
and toast the enduring relationship between Mexico and Australia.
Salud!
Local Date:
Tuesday, 02-Dec-2008 14:26:37 EST
