Friday, May 28, 2004

Spain expands trade with Mexico

Spain and Mexico are looking to increase their trade relationship. That is a good thing. Currently over 90% of Mexico's trade is with the U.S. According to the LA Times, Mexico is now the tenth largest economy driven by tremendous trade growth following the 1994 signing of NAFTA.

I am excited about the possiblity and expected to see more earlier. Spain is a gateway for Latin America into European markets and Mexican entrepreneurs are comfortable doing business in Spain. Mexico and Spain did over $4 billion in trade with each other last year. Meanwhile, China is threating Mexico's trade growth in a number of ways and has surpassed Mexico in trade volume with the US. That should be a concern to both Mexico and the US.

The two day summit with Latin American and European leaders is being hosted by Vicente Fox in Guadalajara. Guadalajara is a great place to hold a conference. I went to several international conventions when I was living there. It reminds me of the Spanish-American summit of 1991 that was also held in Guadalajara.

More News from Guadalajara:
El Informador