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China, Mexico enter new strategic partnership with more fruitful trade co-op
Last Updated: 2013-06-06 13:41 | CE.cn
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By Li Hongmei

 

 

Chinese President Xi Jinping and his Mexican counterpart Enrique Pena Nieto said after their Tuesday Meeting that they were transforming the relationship into a "strategic partnership" and taking steps to move toward balancing their trade.

The leaders signed 12 memorandums of understanding and co-operation agreements in areas, including energy, mining, education and infrastructure.

"Today, we are giving way to a new relationship, a new phase of the relationship," Pena Nieto said in a joint statement.

"We expect to broaden investments of Chinese capital in our country," Pena Nieto said, a move that will create more jobs and make Mexico "an important platform for exports to the countries with which we have free-trade agreements."

Mexico is a member of the North American Free-Trade Agreement, along with the US and Canada.

Xi praised the "comprehensive strategic partnership" between the countries. He said China wanted better relations with Mexico, which he called "a great friend and a great partner in the Latin American region."

In a joint statement, the two nations agreed to increase talks at various government levels "to deepen mutual trust and conduct bilateral dialogues on strategic issues", Xinhua reported.

Closer ties include more co-ordination in forums like the UN and the Asia-Pacific Economic Co-operation grouping, Xinhua said.

Xi said China would sign contracts to buy more than US$1 billion of Mexican products, but did not provide any details. He also said the number of scholarships for Mexicans to study in China would be increased to 300 over the next three years from 40.

Meanwhile, during the 3-day visit of Chinese President, Mexico's national oil company Pemex signed two agreements with the Chinese side.

The first was signed with the Export-Import Bank of China for a credit line of US$1bn. The funds will be used to purchase ships and other offshore equipment.

The deal has a lifespan of three years and is the first credit from China's Exim Bank accessed by Pemex.

The second deal is a follow-up from an April 6 MOU with the Chinese state-owned pipeline firm XinXing Cathay. The objective of the new agreement is to find opportunities for collaboration on pipeline projects.

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