Singapore, Mexico sign agreement to boost bilateral investments
By Rachel Kelly, Channel NewsAsia | Posted: 12 November 2009 1205 hrs

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SINGAPORE: Singapore and Mexico have signed an Investment Guarantee Agreement (IGA) that is expected to boost investor confidence and the volume of bilateral investments between the two sides.

The agreement was signed on Thursday on the sidelines of the APEC ministerial meetings by Singapore Trade and Industry Minister Lim Hng Kiang and Mexico's Economy Secretary Gerardo Ruiz Mateos.

The IGA is also expected to outline clearer guidelines for business investment between Singapore and Mexico.

Bilateral trade between Singapore and Mexico amounted to S$3 billion in 2008 – up 25 per cent over 2007.

Singapore's investments in Mexico are mainly contract manufacturing for electronics, logistics and infrastructure.


- CNA/so