Indo-Mexico trade set to reach new high
Bilateral trade between India and Mexico is expected to grow exponentially with exports from India poised for major growth in the coming years.
Aiming to boost trade ties between the two countries and diversify India’s exports, businessmen from India and Mexico held several interactions during a three-day exhibition here, showcasing Indian engineering products, services and technologies. Besides issues relating to bilateral trade, they also explored possibility of joint ventures and the factors that inhibit the expansion of trade between the two countries.
Organized by Indian Export Promotion Council, the exhibition generated direct business worth $100,000 and attracted enquiries for goods worth $600,000. More than 6,000 representatives of importers and big business in Mexico visited exhibition at which about 155 Indian companies had displayed their wares.
More: economictimes.indiatimes.com
U.S.-Mexico trade route takes detour
Patience. Persistence. Frustration. Those words come to mind when considering the plight of U.S. apple growers as they attempt to retain their foothold in Mexico, where local growers have accused them of “dumping†Red Delicious and Golden Delicious apples.
While U.S. growers have tried in court and through negotiations to reach an equitable tariff agreement, they have met resistance, primarily from the Chihuahua State Fruit Growers Association, which filed suit eight years ago over the prices U.S. growers charged for Red and Golden Delicious apples.
For eight years, U.S. growers have been wrangling with the Mexican government
WTO panel sides against Mexico tax on U.S. corn sweetener
Mexico violated global trade rules in a soft-drink dispute with the United States, a World Trade Organization panel ruled Friday.
At issue is a 20-percent tax that Mexico imposed on beverages made with imported sweeteners such as high-fructose corn syrup and sugar made from beets. Drinks made with Mexican cane sugar are exempt from the tax.
Mexico said that regardless of the WTO panel decision, unless it can reach an agreement with the United States, it will continue to adopt the measures it considers necessary to protect the interests of its sugar sector.
Mexico
WTO panel sides against Mexico tax on US corn sweetener
A World Trade Organization panel has found that Mexico violated global trade rules in a soft-drink dispute with the US.
The issue is a 20-percent tax that Mexico slapped on beverages made with imported sweeteners such as high-fructose corn syrup and sugar made from beets. Drinks made with Mexican cane sugar are exempt.
Before the tax was imposed in 2002, Mexico was a top market for high-fructose corn syrup from the US. However, the tax made it too expensive to use the corn sweetener in soft drinks, and now the US share of
Mexico reports trade gains
Mexico posted an unexpected trade surplus in April as exports climbed, buoyed by near-record high oil prices and growing U.S. demand for Mexican-made automobiles, a report said Wednesday.
Exports rose 13.9 percent in April from the same month a year ago, a Finance Ministry report showed. Imports rose 7.3 percent. The country posted a trade surplus of $464 million after a $147 million deficit in March.
Economists had expected a trade deficit of $330 million, according to a Bloomberg survey.
Were still seeing very strong growth compared to previous years, David Franco, an economist for JPMorgan Chase & Co. in
U.S. liquor bottlers took a shot at Mexican tequila and won.
Tequila trade talks ended on Tuesday with Mexican officials agreeing to allow U.S. distributors and bottlers to continue importing the libation in bulk for bottling later in the United States.
Nearly two years ago, Mexican government officials accused U.S. bottlers of adding lower-cost alcohol and selling the blend as "tequila." They threatened to require that the spirit be bottled in one of the five Mexican states that make up the tequila region. It's in these states of Jalisco, Guanajuato, Nayarit, Michoacan and Tamaulipas where the blue agave plant is cultivated
Activists from Canada, Malaysia, Botswana and Mexico win 'alternative Nobels?
Canadian activists Maude Barlow and Tony Clarke were named Thursday among winners of this year's Right Livelihood Awards, widely known as the "alternative Nobels."
An activist from Malaysia, a group representing Kalahari Bushmen in Botswana and a Mexican artist were also honoured by the selection committee, which recognizes work in arts, trade and human rights.
The awards, worth the equivalent of about $300,000 Cdn, were founded in 1980 by Jakob von Uexkull, a stamp dealer who sold his collection to fund a program to recognize work that he believed is
Stocks up in Mexico, Chile, down in Brazil, Argentina
Mexican stocks posted a broad rally on modest trading activity Friday to reach yet another record close.
The market's key IPC index closed up 128.93 points, or 0.8 percent, to 16,879.36. Volume totaled 61.1 million shares traded worth 1.06 billion pesos ($100 million).
The IPC last hit a record close on Tuesday, when it finished the session at 16,866.84.
Also Friday, in a widely expected move, the Bank of Mexico said it would allow the overnight rate to fall as much as 25 basis points, which puts the current floor at 8.75 percent. Short-term
Europe and US still split over next Doha move
The US and European Union remain starkly divided over who must take the initiative to end the deadlock in the Doha round of world trade talks, as trade ministers approach their next opportunity to make progress at the World Economic Forum in Switzerland next weekend.
Comments by Peter Mandelson, EU trade commissioner, and Rob Portman, US trade representative, have quashed hopes that there has been a significant change of heart since the World Trade Organisation ministerial meeting in Hong Kong in December left central issues unresolved.
Speaking on Monday in Berlin, Mr Mandelson insisted
Mexico hopes to join Mercosur in 2006
Mexico is working with Mercosur members to join the South American trade block sometime late next year, the country's foreign minister said Thursday.
Luis Ernesto Derbez told a news conference that he will be working with Argentina, Brazil, Paraguay and Uruguay during a Dec. 9 meeting to ensure that joining Mercosur wouldn't conflict with Mexico's other trade agreements in the region.
The meeting is scheduled to take place in Montevideo, Uruguay.
Mexico is currently a so-called Mercosur "observer," meaning it is allowed to participate in the trade block's meetings.
In July 2004, however, Mexico asked to become
Tropical Storm Gert dumps heavy rain on Mexico
Now Tropical Storm Gert, a somewhat ragged weather system in the Gulf of Mexico headed toward the same general area of Mexico struck last week by Hurricane Emily.
Forecasters warned that up to 12 inches of rain and potential flooding could pose a threat to life and property along portions of Mexico's Gulf Coast and inland.
They said Gert, the seventh named storm of the young hurricane season, developed from a disturbance they have been watching for days as it approached and then crossed the Yucatán Peninsula.
Though the storm was being inhibited by high-altitude winds
