Home Business-newBusiness China and Yucatán strengthen trade ties once again

China and Yucatán strengthen trade ties once again

by Sofia Navarro
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Bilateral trade between China and Yucatán has experienced significant growth in recent years thanks to the efforts of federal agencies in both countries. This growth not only boosts the economy on both sides but also generates employment and improves the quality of life for residents of both regions, stated Aihua Yao Ming Na, President of the Federation for the Promotion of Trade between China and Yucatán, during the Hubei Province Investment Seminar.

What is the relationship between both countries?

Since the establishment of diplomatic relations between China and Mexico more than 50 years ago, both parties have actively strengthened their bilateral development. Mexico is our second-largest trading partner globally and China’s largest in Latin America.

What benefits does this relationship bring?

In 2022, the total volume of trade between China and Mexico reached $94.965 billion USD, with a year-on-year increase of 9.8 percent. In the same year, the total volume of imports and exports between Hubei and Mexico reached $181 million USD, accounting for 2 percent of Hubei’s total foreign trade.

What advantages do you see in Yucatán?

Yucatán has Mérida, the safest city in the Americas, and also boasts the best air quality in Mexico. It has air, sea, and land connections that link to Europe, the United States, Central America, and the Caribbean. Mérida is an excellent investment option.

How many Chinese companies have arrived?

There are 32 Chinese investments registered in the National Registry of Foreign Investments of the Ministry of Economy in Yucatán.

What types of companies would arrive?

These companies focus on sectors such as clothing manufacturing; footwear, wood, and tool production; wholesale trade of toys, trucks, construction materials, glass and mirrors, machinery, and electrical equipment, retail trade of self-construction materials, automotive parts, and accessories, vans, and trucks, cleaning products; real estate; travel agencies, and restaurants.

TYT Newsroom

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