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Cameron leads business delegation to Mexico

David Cameron is leading a business delegation to Mexico, which is hosting the G20 and B20 summits in Los Cabos.

Over 25 UK companies, institutions and universities including Diageo, Rolls Royce, Virgin Atlantic and the Confederation of British Industry (CBI) join the Prime Minister and Chancellor George Osborne as they are due to arrive today.

The G20 is set to focus on growth and employment, strengthening the international financial architecture, financial market reform and food security and development.

The B20 gathers senior business people to discuss themes such as growth, development, trade and investment.

Lord Green said: “Almost two hundred years ago, the UK was the number one European exporter to Latin America.

“British expertise helped to build Mexico’s railways and canals, but UK firms currently account for less than one per cent of Mexico’s imports. We need to turn this performance around in one of the world’s most promising markets.”

Dr. Neil Bentley, CBI Deputy Director-General, said: “This timely visit with the Prime Minister shows British companies are committed to strengthening their ties with Mexico, and is a great opportunity to showcase what the UK can offer, such as retail, luxury and consumer goods, and green technologies.

“Mexico is a vital trade partner for the UK, with its growing economy and burgeoning middle class, and demand for quality British goods and services is increasing.

“To achieve a potential £20 billion boost to the UK economy by 2020 through increasing exports, the UK must look beyond traditional markets and strengthen its relationships with fast-growing economies like Mexico.”

Kirk Kinsell, President of the Americas for InterContinental Hotel Group (IHG), which is headquartered in Buckinghamshire, said: “Mexico provides many opportunities to diversify in the hotel business, from resort to business destinations.

“The country can serve several tastes in regards to tourism - adventure, sun, colonial - and it has a growing economy in the trillion dollar range.

“We see a huge opportunity to grow many of our hotel brands, such as InterContinental Hotels & Resorts, Holiday Inn and Staybridge Suites in Mexico.”

Nigel Curson, Director of Integrity Services at London-based Penspen, added: “Mexico represents a wealth of opportunities for companies like Penspen with a strong track record in oil and gas engineering, project management and integrity services.

“The country’s estimated 681 trillion cubic feet of shale gas reserves, combined with its aim to replace 100 per cent of extracted oil with new discoveries, make it a crucial market for engineering consultancy, training and knowledge-transfer.”

This was posted in Bdaily's Members' News section by Tom Keighley .