Mexico sees prospects of boosting trade with Russia

MEXICO CITY, January 15. /TASS/. Russia and Mexico have a significant potential for deepening trade, economic and investment ties, Mexican Economy Minister Ildefonso Guajardo told reporters on Thursday. "These relations are not fully uncovered, and we have potential for increasing the trade flows, there is a very big possibility to do this," Guajardo said. He also reminded that recently "very successful meat exports from Mexico to Russia were suspended" due to the issues linked to meeting Russia’s sanitary requirements. The minister said Mexican producers could increase their presence on the Russian market by supplying vegetables, fruits and other agricultural goods, and also a number of industrial commodities. He also stressed that "an approach for a deeper work in this direction needs to be developed." Trade between Moscow and Mexico reached $1.78 billion in 2014, according to Mexico’s economy ministry. Since 1999, it has grown 11-fold and the annual increase reached 17 percent, on average. Mexico mostly exported to Russia cars, spare parts and alcohol drinks. In the first six months of 2015, bilateral trade reached $1.5 billion. Read more