Mexico wants to have closer ties with the east especially Singapore.
Mexico is keen to learn from Singapore's business park expertise when it comes to its special economic zones. These zones will include tax incentives for companies investing in targeted sectors and they present an opportunity for companies in infrastructure development areas such as logistics, petrochemical complexes, utilities and water and waste treatment.
Mexico's massive new international airport is due by 2020 and the country would like Singapore's expertise in airport management and associated activities. Some Singaporean small and medium enterprises are already active in logistics.
There are about 40 Singapore companies of various sizes operating in Mexico. These include a water treatment firm, a textile firm and a plastic parts manufacturer.
As Mexico's relations with the United States have become frostier, the Latin American country is looking for new friends. It has realised that keeping all your eggs in one basket, and having 80 per cent of your output delivered to one client, is not smart in the long term.
In the wake of the collapsed Trans-Pacific Partnership (TPP) deal, of which Mexico had been a party, Mexico wants to convert the TPP into bilateral agreements with the six TPP countries that it does not already have free trade deals with.
These include Singapore, Vietnam, Australia and New Zealand.