MEXICO CITY, May 20 (The Straits Times/ANN): Technology and environmental sustainability are among the many key points that Singapore, Mexico, and different Pacific Alliance (PA) members are discussing within the context of a brand new PA-Singapore trade agreement, mentioned Minister of State for Trade and Industry Alvin Tan on Tuesday (May 17).
Tan, who was on a five-day go to to Mexico till Thursday, mentioned: “We now have the PASFTA (Pacific Alliance-Singapore Free Trade Agreement) with Singapore as the first associate member, and we are very pleased.
“What we are doing regarding the treaty is, for starters, working with Mexico – as well as the PA states – on a few initiatives, which are based on four pillars.
“The first being technology and digitalisation, the second is environmental sustainability, the third is connectivity and logistics, and the fourth pillar is people-to-people exchange.”
The minister was collaborating in a dialogue in Mexico City with Mexican veteran diplomat Miguel Ruiz-Cabanas Izquierdo on the relevance of the PA for each international locations, the expectations for every nation, and methods to preserve the industrial relationship a precedence throughout turbulent occasions.
The dialogue, moderated by media platform Mexico Business News, was introduced by Tecnologico de Monterrey, the highest non-public college in Mexico, and Enterprise Singapore.
The minister and Ruiz-Cabanas – former Mexican ambassador to Italy and Japan and Undersecretary for Multilateral Affairs and Human Rights on the Ministry of Foreign Affairs since 2015 – addressed the alternatives in every nation for Mexican and Singaporean start-ups and small and medium-sized enterprises.
They additionally mentioned how treaties such because the PA and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership may also help increase the connection between the 2 international locations.
Besides the pursuits of Singapore in Mexico, Ruiz-Cabanas mentioned that Mexico sees Singapore as a key participant within the Asian area due to the nation’s openness.
Technology growth, maritime communication, and sustainability methods are a number of the elements that make Singapore a beautiful and beneficial trade ally.
“Mexico needs that. It needs a reliable partner in that part of the world,” mentioned Ruiz-Cabanas.
“In the end, we are complementary because (Singapore has) strength in technology and sustainability, while Mexico needs to be much more careful with the environment in general and how to promote sustainable development.”
Regarding the expectations of each international locations for the PA, the ministers mentioned they might study from one another’s cultures, perceive the way in which expertise firms develop concepts and deliver them into the market, and change information on how each international locations deal with sustainability and vitality era.
One of the challenges the PA is going through is that international locations throughout the Americas are usually not benefiting from PASFTA advantages by way of entry to markets and trade facilitation. Both the Singapore and Mexico governments are working in the direction of rectifying that.
But Singapore can be targeted on sending a message to the world that “we are against the tide of anti-globalisation and we are making it clear that we want to make friends in business and learn from one another. The PA is a good signal in a world that seems to be retreating from the multilateral order”, Tan mentioned.
The PA additionally opens alternatives for Singaporean firms to go to Mexico and Latin America, in addition to for Mexican companies to develop in the direction of Singapore and Asia.
Companies equivalent to Advanced AI Global, a big, main information and synthetic intelligence firm in Asia that gives options associated to digital transformation, fraud prevention, and course of automation for enterprise purchasers, is now in Mexico.
Mexico’s Plan B Ventures, based by Alejandro Blanco, is the holding organisation for Senor Taco Mexican Taqueria – Singapore’s first genuine road taco store – in addition to La Mexicana, El Mero Mero, and Casa and Lumbre eating places.
Tan invited extra entrepreneurs and firms to capitalise on the brand new alternatives rising from these newest developments. Leap2LatAm, he mentioned, is an efficient place to begin.
The Leap2LatAm programme is the primary to present Mexican firms higher entry to enterprise alternatives and partnerships with Singaporean expertise start-ups.
“They have been bringing Mexican companies to Singapore and Singaporean companies to Mexico, so if you have a good idea, connect with them and join the opportunities that have been made available,” the minister mentioned. – The Straits Times/ANN