Time for Mexican companies to explore new partnerships with Chinese counterparts, say experts

As China-Mexico ties are at their peak, it's time for Mexican companies to explore new partnerships with their Chinese counterparts, experts have said.

A bilateral high-level business group known as GANE, which means "win" in Spanish, has held seven meetings and shed light on how Mexican companies can approach the Chinese market, said Mexican Ambassador to China Jose Luis Bernal at an event called "China Day" in Mexico City on Monday.

"The best way to approach this market is to create new value chains and new chains of productive partnerships, not just in manufacturing sectors, but also by creating shared strategies for market growth and long-term complementarity," Bernal said.

"We're talking about fruits, vegetables, juices, meats, fish and seafood, alcoholic beverages, building materials and chemicals, synthetic fibers, mining and so on," Bernal added.

Established in 2013, GANE aims to bolster mutual trust and cooperation between the private sectors of the two countries and solve problems in bilateral trade and investment.

The mechanism has proved effective, said Bernal, adding that at least three Chinese automakers are preparing to produce vehicles in Mexico.

Mexico and China have maintained "good relations" for years, which is conducive to consolidating their political and economic ties, said Mexico's Deputy Economy Minister Luz Maria de la Mora, who also attended the event.

Mexican President Andres Manuel Lopez Obrador put in place policies to shape the commercial pillars of innovation, inclusion and diversification, laying the foundation for stronger cooperation, she said.

"Our relationship with China is in a way perfectly aligned with these goals," de la Mora said.

The Chinese market is 10 times larger than Mexico's domestic market, providing huge opportunities for the Latin American country, she said.