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    Mexico's New Trade and Investment Agency


    International Trade Forum - Issue 2/2007, © International Trade Centre

    ProMéxico is the new agency for Mexican trade and investment promotion. It will become operational during 2007, as a countrywide agency attached to the Ministry of Economy. Its governing structure foresees representation from federal, state and local government, along with the private sector. Among the federal agencies in the coordinating committee will be ministries of housing, foreign affairs, social development, environment, agriculture, fisheries and tourism.

    ProMéxico will manage projects designed to open new markets and niches for Mexican products and services through trade and investment promotion. It will put a strong accent on building the capacity of its small and medium-sized firms. The agency's start-up budget is $72 million. Its director is Héctor Reyes Retana, former director of Bancomext.

    Bancomext, the Mexican Bank for Foreign Trade, previously handled trade promotion and financing. Bancomext will continue to finance the development of small and medium-sized businesses.

    Sources: La Jornada, Mexicadata.info, Beurs.nl news reports.