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LatinNews Daily - 17 June 2021

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In brief: Mexico promulgates investment agreement with Hong Kong

* An Agreement for Reciprocal Protection and Promotion of Investments (APPRI) between Mexico and Hong Kong has come into effect. Mexico’s economy ministry (SE) has said that the promulgation of the APPRI deepens economic relations and “continues to strengthen the important investment relationship” between Mexico and Hong Kong. The administrative region is Mexico’s 26th biggest global investor, having invested US$1.18bn between 1999 and March 2021. In 2019, prior to the coronavirus (Covid-19) pandemic, trade between Mexico and Hong Kong was upwards of US$1.5bn, with Mexico exporting US$592m worth of goods. This is Mexico’s 30th APPRI, and is a part of the government’s plan to commit to foreign trade and foreign investment in order to recover from the pandemic, which caused GDP to contract by 8.2% in 2020.