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Economy & Business - July 2021

ECONOMIC HIGHLIGHTS

MEXICO| Investment agreement with Hong Kong.  On 17 June Mexico’s economy ministry (SE) said that an Agreement for Reciprocal Protection and Promotion of Investments (APPRI) between Mexico and Hong Kong has come into effect. The SE 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 Mexican government’s plan to commit to foreign trade and foreign investment in order to recover from the pandemic, which caused Mexico’s GDP to contract by 8.2% in 2020.

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