Addressing a public program in New Delhi today, Foreign Minister of Mexico, Dr. Jose A. Meade Kuribrena, pushed for reforms in the United Nations Security Council, ahead of the Sixth India-Mexico Joint Commission Meeting(JCM).
"UNSC should be more representative, responsive and inclusive in its structure. The time is ripe to have a hearty debate on the need for reforms in the forum," said the Mexican Foreign Minister, while speaking at a session hosted by the Ananta Aspen Centre. Ananta Aspen Centre is a New Delhi-based institution working on international relations, public policy and values-based leadership.
Dr. Meade went on to shed light on his foreign policy priorities while stressing on the potential to expand the canvas of India-Mexico relations.
"There is immense potential to strengthen India-Mexico relations. Mexico is India's leading trade partner in Latin America. The bilateral trade volume was $4.15 billion in 2011, and this can be increased to $10 billion by 2015. Our relationship with partners is extremely intense. This is why today, India and Mexico share a close relationship among the G20 nations. Mexico is now part of India's value-chain in the manufacturing sector," stressed Dr. Meade.
According to government data, Mexico's imports from India grew at 33% in 2011, especially in goods such as chemicals & petrochemicals, automobiles & auto parts, pharmaceuticals, diamonds, textiles & garments, and gasoline. Stronger ties with India would require effective promotion measures from both sides, Dr Meade added.
The Foreign Minister also provided valuable insights on the recent structural reforms approved by the Mexican Congress.
"Mexico is the fourth largest economy in the Americas. It is the fourteenth largest country in the world. We have low debt, stable economic system and string financial sector. However, good macro indicators are not enough. We need other sources of growth. The Mexican Congress has recently engaged in structural reforms, in the areas of labour market regulation, education, telecommunication and competition policy, financial sector regulation, energy, and fiscal policy. These are aimed at increasing Mexico's productivity and competitiveness," asserted Dr. Meade.
Mexico is the second largest economy in Latin America. In the aftermath of the economic crisis that started in 2009, Mexico has engaged in a massive program of meaningful economic and social reforms. On 5 August 2014, the Mexican Congress passed the bulk of the legislation and approved changes to the hydrocarbons law, which is the backbone of the country's energy reform. These radical reforms were introduced as the experts agreed that the country had to change its economic structure in order to keep pace with globalization and the world's economy. Liberalization of the energy sector is expected to boost Mexico's economic growth performance in the future.
(Samarth Pathak is a Program Officer at the Ananta Aspen Centre, a New Delhi-based institution working on international relations, domestic policy and values-based leadership. His experience encompasses news reporting and policy research on issues pertaining to politics, foreign policy and human rights. Follow him on Facebook. Views expressed are personal.)