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Doing business in Mexico.

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Media releases

Wednesday, 11 December 2002 - MVT161/2002

Doing Business in Mexico

Australian companies are being encouraged to take advantage of rapidly growing opportunities for doing business in Mexico, Trade Minister Mark Vaile said today.

Mr Vaile launched in Canberra today Doing Business in Mexico, a guide to doing business in the world's ninth largest economy and Australia's main trading partner in Latin America.

"Now, more than ever before, the relationship between our two countries offers tremendous opportunities for Australian business. Doing Business in Mexico can give them a head start," Mr Vaile said.

"Our relationship with Mexico has gone from strength to strength in recent times. Two-way bilateral trade has doubled in the past five years to $1 billion.

"This year in particular has seen a number of positive developments in the bilateral relationship. We signed a Memorandum of Understanding on Mining in July and a Double Taxation Agreement in September. We concluded negotiations on an Investment Promotion and Protection Agreement in November and have commenced discussions on energy, education and cultural cooperation.

"Four Australian Cabinet Ministers, including myself, visited Mexico during the year and the Prime Minister's visit in October for the APEC Economic Leaders' Meeting was the first prime ministerial visit to Mexico in more than 20 years. In addition, several high-level Mexican delegations have come to Australia this year including, most recently, one led by Economy Minister Luis Ernesto Derbez."

Commissioned by the Department of Foreign Affairs and Trade and the Council on Australia-Latin America Relations, the report is the third in a series aimed at encouraging Australian businesses to consider opportunities in Latin America.

"I highly recommend this guide to Australian companies. It dispels a number of myths about the Mexican market and provides valuable advice on day-to-day business dealings," Mr Vaile said.

Media Contact: Robyn Bain +61 02 6277 7420 | Nicole Guihot (Department) 02 6261 1555