The Japan Bank for International Cooperation (JBIC) held the sixth annual meeting for policy dialogue with the Government of Mexico at JBIC Tokyo Head Office on May 10, 2017.
The annual meeting was based on the framework agreed upon in the Memorandum of Understanding (MOU)*1 signed on February 22, 2011, with the Secretariat of Finance and Public Credit of Mexico (SHCP) and ProMéxico.
The attendees from JBIC were Akira Kondoh (Governor), Hideo Naito (Global Head of Infrastructure and Environment Finance Group), and Shigeki Kimura (Global Head of Industry Finance Group), among others. From Mexico, Ms. Vanessa Rubio Márquez (Deputy Minister of Finance of SHCP), Mr. Paulo Carreño King (Chief Executive Officer of ProMéxico), and Mr. Francisco N. González Díaz (Chief Executive Officer of Banco Nacional de Comercio Exterior, S.N.C. (Bancomext)) were in attendance. At the meeting, the participants discussed the changing economic and trade environment surrounding Mexico, the nation's prospects at such times, as well as cooperation to be provided by JBIC.
In the meeting, the Government of Mexico explained the impact of U.S. trade and immigration policies and the Mexican government's policy and strategy to deal with such circumstance. They stated that both Japan and Japanese companies are essential partners for Mexico, and expressed their hope that Japan will continue to invest in Mexico, as well as their plan to develop the environment necessary for promoting the investments. They also voiced their expectations for cooperation of Japanese companies in the energy reform that is currently being carried forward by the Mexican government.
JBIC responded to this by raising a discussion on the possibility of Mexico functioning as the gateway for production and export to the Inter-American regions. Furthermore, JBIC presented concerns held by Japanese companies operating in Mexico and the issues which must be addressed in order for Mexico to become the export hub, and expressed that JBIC will cooperate in the resolution.
As part of such cooperation, JBIC, taking the opportunity of this annual meeting, concluded with Bancomext an MOU for bilateral cooperation towards boosting exports and investments by Japanese companies in Mexico. Bancomext is a state-owned financial institution which aims to promote foreign trade and achieve national development plans of Mexico. Since the 1980s, JBIC and Bancomext have built a strong cooperative relationship through export of Japanese equipment to Mexico, investments, export promotion and environmental projects in Mexico, and others. This agreement is intended to further enhance the relationship of the two banks.
JBIC will continue the dialogue with the Mexican government and governmental agencies based on the outcome of this meeting and the signing of MOU, toward the formation of projects in order to increase new business opportunities for Japanese companies, as well as to contribute to the development of industries in Mexico.