Chongqing - China (Chongqing)-Mexico Investment Promotion and Commercial Cooperation Conference was held in Mexico City recently, where Chongqing and  Mexico agreed to strengthen their collaboration in industrial integration, innovation synergy, and trade relations.

The project signing ceremony at the China(Chongqing)-Mexico Investment Promotion and Commercial Cooperation Conference. (Photo/People's Daily)

Seven agreements were finalized, including three investment projects totaling around 730 million yuan (USD 100 million).

In addition, both parties signed agreements concerning import-export trade and educational cooperation. This includes a partnership between Chongqing and the Autonomous University of Nuevo León to launch the "Luban Workshop," a vocational education initiative originated by China.

Recently, several Chongqing-based companies have set up manufacturing operations in Mexico. Products ranging from electronics and automotive goods to mechanical and electrical items, all branded "Made-in-Chongqing," have successfully entered the Mexican market. Mexico reciprocates by exporting mineral products, automotive parts, coffee, chocolate, and other goods to Chongqing.

Trade between Chongqing and Mexico reached 13.64 billion yuan (USD 1.86 billion) over the past year, marking a 6.2% increase. Mexico has become one of Chongqing's largest trading partners in Latin America.

Accompanying the delegation from Chongqing was Chinese automotive giant, Changan Auto. On October 21, Song Shuang, General Manager of Changan International, discussed the company's expansion plans in Mexico, marking their first media briefing since entering the market.

During the conference, Hu stated that Chongqing aims to deepen industrial integration by enhancing collaboration with Mexican companies in supply chains for electric vehicles, high-end equipment, and biopharmaceuticals.

Furthermore, Chongqing plans to bolster innovation by co-developing labs and technology incubators, focusing on emerging sectors like artificial intelligence, the Internet of Things, 5G, and smart cities.

Hu believes that Chongqing aims to fortify trade relations by facilitating the entry of Mexican mineral and specialty agricultural products, as well as consumer goods, into the Chongqing market. This will also advance Chongqing's products and businesses in Mexico, creating new avenues for trade growth.