Monday, June 9, 2014

Great Britain and Mexico held High Level Economic Talks

British Embassy Mexico City

The UK and Mexico held the sixth round of the annual High Level Economic Talks (HLETs) on 2-3 June in Mexico City.

The talks were chaired by Juan Manuel Valle, Executive Director AMEXCID (the Mexican Development Agency), and Head of Economic Relations in the Ministry of Foreign Affairs. Other Mexican departments present included the Secretaria de Hacienda y Credito Publico (the Ministry of Finance), Secretaria de Economia (the Ministry of Trade), ProMexico (the Mexican trade promotions agency), and the Secretaria de Energia (the Ministry of Energy).

The UK was represented by Angus Lapsley, Head of the European and Global Issues Secretariat in Cabinet Office. Other departments represented were the Foreign and Commonwealth Office, the Department for Business Innovation and Skills, UK Trade and Investment, and the Department for International Development.

The HLETs were preceded by the third meeting of the UK-Mexico Trade Task Force. The Task Force was established with the objective to bring together Mexican and British experts to investigate new ways in which to overcome obstacles for business and investment in both countries. Both sides agreed to establish a bilateral working group to take forward work with Mexico post-energy reform, on identifying international standards and implementing best practice. There was also agreement to support the science and technology sectors, including academic and business sectors.

The HLETS themselves covered a broad range of issues, from global economic governance to financial services, multilateral trade negotiations, trade promotion and development issues. Specific agreements included exchanging technical expertise on large infrastructure projects, and in relation to this to agree on a bilateral strategy on the use of PPPs, particularly for infrastructure.

There was also agreement to build on the joint work the UK had initiated in the G8 Summit in Lough Erne last year, around the HMG 3Ts agenda (Tax, Trade and Transparency), relevant multilateral, particularly for the G20. Both sides also agreed to work together to ensure a significant Trade and Investment component to the Year of Mexico in the UK, and Year of the UK in Mexico.

On green growth and energy there was agreement to share experience on green growth strategies around green deal, green jobs, green bonds and green banking principles. The two countries also agreed to work together to create favorable conditions for international dialogue on the Post 2015 Development Agenda and Financing for Development.

Both sides agreed that this round of talks had once again proved a fruitful and valuable mechanism to secure bilateral economic cooperation between the two countries. The next round of talks will be held in the UK in summer 2015.

——————————

News release, "Sixth meeting of UK-Mexico High Level Talks," British Embassy Mexico City, Jun. 4, 2014