Alderman Nick Anstee, the Lord Mayor of the City of London
Mexico is already the 12th largest economy in the world today (11th largest in purchasing power parity terms), its economy has demonstrated high growth potential and commentators believe it will move rapidly up the global economic rankings.
There has never been a better time to consider Mexico as a place to do business, given limited growth in traditional markets, and the Mexican government and businesses' desire to diversify its trading partners; Mexico has established free trade agreements with more countries than almost any other. Mexico is a country open for business and regularly ranks in the top three emerging markets in which to do so.
I am therefore delighted to invite you to this UKTI conference, 'Mexico after the Recession and Opportunities in the Financial Services Sector', at which I will be delivering the welcome address.
The conference will focus on four key areas:
Mexico has developed a programme of PPP projects based on the UK model. With a total of nine federal and four state PPP projects now completed and a further 10 PPP projects in the pipeline, President Calderon has indicated that he will extend the role of PPP in order to achieve the goals of his National Infrastructure Plan.
Many of the major family-owned conglomerates in Mexico are reaching the point where they need capital to growand realize their expansion plans. The Stock Exchange, Alternative Investment Market (AIM) and Plus Markets can offer these businesses an appealing alternative to New York or Madrid as a place to raise capital.
As the Mexican economy develops, so its insurance requirements will become more complex. Lloyd's and, more generally, the London Market, are able to provide a range of risk management solutions. These include insurance for international business activities and tailor-made solutions for requirements that are complex.
London is home to some of the largest international law firms who are leading advisers not only on PPP projects and listing proposals, but also on the full range of transactions in the international capital markets, including mergers and acquisitions, financing and refinancing, and private equity. Demand for cross border legal services will increase as bilateral trade increases.
I hope that you will be able to join me at Mansion House to discuss the opportunities that exist in Mexico and to meet a delegation of senior executives from Mexico that is coming to London to participate in this conference.
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