Mexico is undergoing a process of internal transformation and our goal is to unlock the economic potential of our country, declared President, Enrique Peña Nieto during his participation in the session on "Latin America: A New Transformation of the New World" within the framework of the Boao Annual Conference 2013 for Asia, held here in southern China.
"As President of Mexico, I reiterate the interest and commitment of my country to helping in any way we can in order to deepen the relationship we have built between Asians and Latin Americans."
He highlighted the opportunity to turn the 21st century into a century of development and success in the Pacific Zone.
The president said that in the process of Mexico’s internal transformation, the starting point is the solid macroeconomic stability our country has constructed and the responsible handling of public finances.
He stressed that this year Mexico will have a zero fiscal deficit and that public debt as a proportion of GDP is less than 35 percent, below the average of countries in the Organization for Economic Cooperation and Development.
In addition, annual inflation is below 4 percent, international reserves are located at historic highs, and compared with other economies, the country risk level is extremely low, with fewer than 150 base points while interest rates have reached the lowest levels in decades, which are in the order of 4.19 percent. "But of course we are not satisfied with these encouraging financial figures; our goal is to raise the quality of life of Mexicans on the basis of a swift rate of economic growth," he said.
He declared that the priority of economic policy in Mexico is to increase productivity, "And more specifically, to democratize productivity." For this purpose, he added, in recent months, we have taken several measures, and Mexico has recently undergone major structural reforms. "It now has a new labor law, which provides more flexibility in the labor market and recruitment, especially of young people and sometimes those without experience, who are now protected by the law, but also makes the market for hiring them more flexible."
He added, "We have a new education reform that will enable better training and human capital, which is essential and crucial to raising the productivity of our country. A reform of the telecommunications system is also underway, designed to encourage more investment and increase competitiveness in this sector in order to offer Mexican products that can compete in quality and price."
He explained that over the coming months, the authorities will also promote other major structural reforms in financial issues, to ensure higher level of credit to small and medium enterprises; energy reform to increase production capacity and power generation in our country, and a tax reform to expand the capacity of the Mexican state precisely to raise the standard of living among Mexicans, and especially, to increase productivity and competitiveness in relation to the rest of the world.
The Mexican president pointed out that today’s climate of pluralism and democracy in Mexico, "Has enabled the agreement between the government and the various political forces in the country to sign a Pact for Mexico as we have called it, which means an agreement to promote reforms and structural changes that will speed up the country’s growth and development."
He declared that in an increasingly interconnected world, integration between blocs of nations is essential to building a promising future for the world. "With unity and responsibility we can meet the challenges but, above all, take advantage of opportunities that arise in our time, in the 21st century."
Declaring that Asian and Latin American economies are experiencing a good period, the president said that the countries in both regions will grow at an annual rate of 5.1 percent during the period from 2013-2017, and that, "This figure is above the forecasts for global growth, which will be approximately 4.4 percent."
"On both sides of the Pacific Ocean, innovative policies and timely measures are being implemented to maintain stability and positive economic performance, and as a result, these two regions have the necessary conditions to excel in the 21st century."
Mexico’s President concluded his visit to China and traveled to Japan, where he will conduct an official visit.
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