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Mexico is China's second largest trading partner in Latin America. In 2002, bilateral trade volume reached $3.97 billion, of which China's export amounted to $2.86 billion and import to $1.11 billion, a year-on-year increase of 60% and 46.5% respectively. Mexico has become China's largest export market in Latin America. Main items of China's export to Mexico include electromechanical equipment, household appliances, textiles, chemical and high-tech products. China imports synthetic fibers, steel products, raw cotton, plastics, electromechanical equipment and hi-tech products.
In September 2001, China and Mexico reached a bilateral agreement on China's accession to WTO. Mexico committed that after six years of China's accession to WTO, it would waive anti-dumping measures contrary to relevant WTO regulations.
Economic and technological cooperation between China and Mexico began in 1980s. At present, China has 12 companies registered in Mexico with contracted investment approaching $200 million and actual investment of $110 million. Mexico-invested projects in China have surpassed 40, with actual investment of $6 million.
(Chinese Foreign Ministry, November, 2003)
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