Omar Anderson, Gleaner Writer
MEXICO IS ready to invest heavily in Jamaica, Mexican Foreign Minister, Louis Ernesto Derbez, said yesterday.
At the same time, he invited Jamaican entrepreneurs to explore investment opportunities in Mexico.
"Where we are today is not where we should be," he declared at a breakfast meeting organised by Jamaica Promotions Corporation (JAMPRO) at the Jamaica Pegasus Hotel in New Kingston. "We have, in many ways, been neglecting the relationship with our brothers and sisters from the Caribbean, in particular Jamaica."
The meeting attracted local private sector representatives, as well as representatives of the Mexican business sector.
Mr. Derbez, who was part of the 25-member delegation of Mexican President Vicente Fox, who was here on a one-day working visit, said the 30-year bilateral trade relationship between Jamaica and Mexico has not yielded much result.
Identifying trading areas such as telecommunications, construction, seaports, and tourism, Mr. Derbez said Mexico is seeking to provide more trading support to countries in the Caribbean.
"Mexico wants to participate more strongly in the Caribbean. Mexico thinks that Jamaica is the door through which we can make our inclination towards the Caribbean," he said. "We want to cooperate and work with you in making this a possible feat. We would like to have investment from Mexico in Jamaica."
INVESTMENT POTENTIAL
For his part, Manual Albarran Campillo, president of the Mexican Business Council, noted there was great investment potential in Jamaica. He also urged local businesses to seize investment opportunities in Mexico. "We do wish to look into some of these (investment) areas, as we do believe there is great potential (in Jamaica)," he told his audience.
Speaking at the meeting, Development Minister Dr. Paul Robertson told the Mexicans that Jamaica has led the Caribbean in foreign-direct investments in the recent past. He also identified the bauxite/alumina sector, energy, telecommunications, information technology, construction, tourism as areas in which Mexico could seek to strengthen its presence here.
"Jamaica is one of those countries very liberal and wide open to investments," he said. "We have no investment controls, and we have no restriction on ownership."
