Publication: SABI - Business News
Provider: South American Business Information
Mexican business regards Argentina as a land of opportunity due to the latter's growth prospects and survival instincts, according to the Subsecretario de Negociaciones Comerciales Internacionales of Mexico, Angel Villalobos, who headed a commerce mission to Buenos Aires this week (a trip which featured representatives from such big fish as Femsa, Bimbo, Telmex and Modelo. Argentina is Mexican investment's fourth favourite destination with, post-devaluation, America Movil acquiring CTI, Bimbo, Fargo and Posadas, the Caesar Park hotel and the pharmacy chains Dr. Simi and Dr. Ahorro setting up shop locally. Mexicans and Brazilians are more accustomed to fluctuating economies and so are more willing to invest in Argentina than Europeans or North Americans (Argentina has in fact enjoyed 37 straight months of economic upturn). The two nations are studying an extension to their bilateral trade terms that would free up 80% more products than at present to reach 60%. The new deal could be signed before 2006.