Brussels, 01/02/2001 (Agence Europe) - The aim of the new Mexican Administration is to encourage European investment in sectors where small and medium-sized Mexican companies can provide real added value, the new Mexican Minister of the Economy, Luis Ernesto Debrez, told the press in Brussels, citing as examples the agri-industry, textiles, the automobile sector and spare parts, and electronics. On a round of European countries with Mexican President Vicente Fox, Minister Debrez tried to convince company representatives to take advantage of the EU/Mexico free-trade agreement, in force since July of last year for industrial aspects, and, soon, for aspects that are not of Community concern (investment, intellectual property: see EUROPE of 29/30 January, p.10).
European companies seem particularly interested in waste treatment markets at municipal level and by the reform programme in the electricity sector, that provides for an investment of $70 billion over seven years, said Minister Degrez. Gaz de France, Electricite de France, Electridad Espanola and Iberdrola are among them, he stipulated.
In its plan to win over investors, the new administration is pointing to its good economic intentions: "the austerity plan and tax reform should bring inflation down from 8.9% to 3% the minister of the economy assured his audience. "Our main message is that Mexico is a market of 110 million people, in full growth, and with an annual per capita income of $5,400 that we intend increasing to $8,000 by the end of our term-in-office, in six years", Luis Ernesto Debrez hammered home.
The Minister also met the European Commissioner for trade, Pascal Lamy, essentially to "become acquainted", he commented. This first meeting allowed them to confirm that the Joint Council of the EU/Mexico Agreement would meet for the first time on 27 January, on the fringe of the General Affairs Council.