Monday, February 15, 2010
Britain's Prince Andrew makes a Working Visit to Mexico
Media Statement by President Felipe Calderón
(Speech transcript)
Thank you
Good morning members of the media.
Your Royal Highness, Prince Andrew.
I would like to thank you for your visit to Mexico, which is both an honor and a pleasure, particularly because you
are visiting us in your capacity as the UK’s Special Representative for International Trade and Investment.
I know that this has been an extremely fruitful visit and a wonderful opportunity to confirm the friendship linking
the two nations.
The Mexicans and British are linked by shared values and interests. We are democratic nations, open to the world, with
competitive market economies that promote international cooperation.
We share the goals of economic growth and sustainable human development. I know that during this visit, the Duke of
York has had several meetings with British industrialists operating in Mexico and various agents of the national economy.
He has undoubtedly been able to see the enormous opportunities that exist in the commercial and economic links between
Great Britain and Mexico, as well as the competitive advantages our economy offers investment.
And now I am sure that his meeting with the Mexican Foreign Trade Board, a lunch with Mexican businessmen that have
businesses in the United Kingdom and various other activities, will also promote the already existing Mexican investment in
the British economy.
Your Highness:
Your visit comes at a very important time, because in 2009, as a result of the international crisis, trade between
Mexico and Great Britain fell by nearly 30%.
Your presence is therefore proof of the joint determination of both nations to speed up economic recovery through more
trade and investment.
Both Great Britain and Mexico have suffered the effects of the worst economic crisis, but signs of economic recovery
are now visible in the international economy and in our country in particular; I know that in the trade and investment you
promote lies the road to economic recovery.
Mexico has been characterized by being a country that promotes trade liberalization. Unlike other countries that have
established protectionist measures, Mexico has increasingly reduced its tariffs because we are convinced that a rapid recovery
requires more rather than less trade, more trade and less protectionism.
Since the start of my administration, we have reduced the average tariff on imports from 13% to 5%. For this and other
reasons, Mexico is now one of the world's best investment destinations.
According to certain consultancy firms such as Alix Partners, Mexico is cheaper for specialized manufacturing than
China, India or Brazil.
In addition, we have abundant natural resources, a privileged geographical location, access to over a billion consumers
through a network of 12 free trade agreements with 44 countries on three continents, and a growing infrastructure.
Let me also mention the advantage of having a young, trained, hardworking labor force, since the average age of the
Mexican population is 27.
Nowadays, the United Kingdom is the world’s fifth largest investor in Mexico, since there are over 900 British
companies in this country, all of which are welcome.
During the past decade these British firms have invested over US$7.5 billion.
In January alone, the HSBC President in Mexico announced that this prestigious British bank has decided to increase
its capital and invest US$700 million more in this country.
This proves the confidence that Mexico now generates among many international firms. That is why, your Highness, your
visit honors us.
I agree that a strategic factor for Mexico involves being able to diversify its trade and investment, reducing its
dependence on trade with the United States, and the main opportunity is in the European Union and the United Kingdom. I know
that your visit will contribute to strengthen cooperation links and promote greater reciprocal investment in our countries.
As hundreds of British firms have proven, investing in Mexico is a good business decision. And I am sure that as a
Special Trade and Investment Representative for the United Kingdom that will be one of the main promoters of Mexico among
British investors.
Ladies and Gentlemen.
Once again I would like to thank Your Royal Highness Prince Andrew, the Duke of York, for your visit to Mexico. I know
that as a result of this visit we will make the best use of the excellent level of understanding and collaboration that exists
between our countries.
I would ask you to send our respectful greetings to Her Majesty the Queen, to whom we are eternally grateful for her
hospitality during our state visit to the United Kingdom.
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Press Release:
Presidency of the Republic, February 12, 2010, Mexico City; translation Presidency of the Republic
