Mexican industrialists want FTA with India
Indian Express
Mexican industrialists want FTA with India
Express News Service
21 April 2005
Ahmedabad, April 21: Calling for a boost in bilateral trade between India and Mexico, a visiting delegation of Mexican industrialists on Thursday floated the idea of having a Free-Trade Agreement (FTA) between the two countries.
The industrialists who were in Ahmedabad to attend a day-long Indo-Mexican Chemical Meet, organised by the Confederation of Indian Industry (CII), explored and discussed opportunities of competitive outsourcing in chemical trade between the two countries.
Mexican delegation leader Jose Luis Uriegas, who is the CEO of Industria Derivadas del Etileno, said: ‘‘Mexican chemical industry imports raw materials worth $13 trillion from around the world. They are mainly petrochemicals, inorganics, lubricants and fertilizers. We are here mainly to explore the possibility of trade opportunities between Mexican and Gujarat chemical industry players.’’
Gujarat accounts for more than 20 per cent of India’s chemical output and 12-13 per cent of exports from India are chemicals.
CII (Gujarat Chapter) chairman Amresh Dhawan said, ‘‘Mexico is a big importer of chemicals but at present there is very little import to Mexico from India. But Mexico is still looking for partners where the cost of production and sourcing would be less and Gujarat - and India for that matter - offers them that opportunity.’’
During the meet, a need to find a solution to the logistic issue by increasing the frequency and number of shipment to and from Mexico was also stressed. Dhawan said he was optimistic that some partnerships would be forged between members of Mexican industry and Gujarat chemical industry.
