Mexico, China to sign agreement promoting investments

2008-05-21 02:47:29 GMT       2008-05-21 10:47:29 (Beijing Time)       Xinhua English

MEXICO CITY, May 20 (Xinhua) -- Mexico and China on Tuesday reached an agreement on reciprocal promotion and protection of investments in a move to boost bilateral economic ties, the Mexican Ministry of Economy said.

Mexico's Deputy Economy Secretary Carlos Arce Macias, in charge of foreign investments, said that negotiations were successful and the agreement could be signed in July during President Felipe Calderon's visit to China.

Arce told reporters that the deal "consolidates a juridical framework more favorable for investments, and it will provide juridical guarantee for investments and contribute to the increase and diversification of investments to attract more countries to invest in Mexico."

The accord is expected to improve conditions for direct foreign investments, help attract more foreign productive capital and provide better external conditions for Mexican investors.

China's investments in Mexico totaled 66 million U.S. dollars during 1999-2007, the Ministry of Economy said.

Mexico has reached 24 such deals with countries like Britain, India, Germany, South Korea, Cuba, Argentina, France and Uruguay.

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