Hong Kong and Mexico to launch negotiations on Investment Promotion and Protection Agreement
The Secretary for Commerce and Economic Development, Mr Gregory So, and the Mexican Secretary for Economy, Mr Ildefonso Guajardo, announced after their meeting in Mexico City today (August 26, Mexico City time) that the two economies will launch negotiations on an Investment Promotion and Protection Agreement (IPPA).
Mexico is an emerging economy with tremendous potential for development, offering ample business opportunities for overseas investors. In 2014, Mexico was the world's 15th largest economy and ranked second among Hong Kong's trading partners in Latin America. The IPPA will strengthen the economic and investment ties between Hong Kong and Mexico, bringing mutual economic benefits.
The two governments will make preparations for formal negotiations, which are expected to commence in 2016. The negotiations will send a positive signal to the business communities of the two places, and help strengthen investor confidence and expand bilateral investment flows.
Hong Kong has so far signed 17 IPPAs with other economies, namely the Netherlands, Australia, Denmark, Sweden, Switzerland, New Zealand, Italy, France, Germany, the Belgo-Luxembourg Economic Union, Austria, Japan, Republic of Korea, the United Kingdom, Thailand, Finland and Kuwait.
Ends/Thursday, August 27, 2015