Mexico May Help Brunei To Link Up With Global Food Chain

By Debbie Too and Hadi DP Mahmud

Mexico, one
of the world’s largest food producers, is keen on exploring joint ventures with Bruneian food companies to help it grab
a slice of the lucrative global market for halal products.

“We see a lot of
possibilities in terms of food,” said Mexican Ambassador to
Singapore Juan Jose Gomez Camacho who led a Mexican business
delegation that met with Bruneian businessmen in the
Sultanate yesterday.

“We see a potential for
exporting different Mexican products, but we also think that
there are some areas like halal where maybe, some joint
ventures can be warranted (with Bruneian companies).”


The joint ventures could
involve a Brunei investor or company establishing
operations in Mexico, he said in an interview with The
Brunei Times.

Gomez Camacho explained
that his government’s interest in building economic ties
with the Sultanate jibes with Mexico’s aim to reap the
benefits of the anticipated economic recovery in Asia.

“Mexico has a lot of
food companies that are based in Asia and in this period
of the global economic downturn, Asia will most likely
come out on top in the global economy,” he said.

“We might be able to
generate enough interest and enough good reasons for
Mexican businessmen to jump from Singapore to Brunei,”
he said, adding that the Mexican embassy in Singapore
receives numerous Mexican trade missions involving
investors, businessmen and local government officials.
“We are very committed to work hard to bring those
missions to Brunei and I think that they would love the
place both in terms of opportunities and leisure.”

Mexican companies have
joint ventures in Asia, Malaysia, Singapore, China,
Japan and South Korea.

Moreover, the Mexican
ambassador announced an open invite for Brunei-based
businesses to participate in Mexico’s US$300 -billion
spending plan “to enhance and develop multi-faceted
business clusters or infrastructure ranging from
communications, housing and its planned automotive

The ambassador also
broached the possibility of the two countries working
together on eco-tourism.

“Both countries will
him able to build strong rapport through the exchange of
tourists,” said Gomez Camacho.

Another area of
possible cooperation is the oil and gas sector.

Mexico has successfully
reduced its dependency on hydrocarbons from 70 per cent
to 15 per cent within the span of a few decades, said
Gomez Camacho. Brunei, which has long embarked on a
similar initiative, can benefit from Mexico’s expertise,
he said. Currently 70 per cent of Mexico’s GDP is
derived from its services sector, while Brunei’s energy
sector has been responsible for more than 90 per cent of
its export receipts.

Brunei and Mexico have
had existing diplomatic ties through the United Nations,
but yesterday’s meeting marked the first step towards a
possible bilateral pact.
Adapted By and Courtesy of The Brunei