Mexico gets closer to India
Mexican President Felipe Calderon shakes hands with Indian Minister for Commerce and Industry Kamal Nath in New Delhi
TEXT OF STORY
Scott Jagow: The President of Mexico is visiting India this week for trade talks. The two countries haven't had any serious discussions in about 20 years. So, why now? Dan Grech reports from our America's Desk at WLRN.
Dan Grech: Trade between India and Mexico totaled $1.8 billion last year. That's the same amount Mexico and the U.S. trade every two days.
Pamela Starr: India itself is not important to Mexico in terms of Mexico's trade relations.
That's Pamela Starr with the Eurasia Group. She says Mexico sees India as an important political ally in the developing world. Plus, Mexico's looking to diversify its economy, which right now is propped up by the U.S.
Jagdish Bhagwati is a professor with Columbia University:
Jagdish Bhagwati: For Mexico, which has always had aspirations to play a role beyond its borders, it is turning to Asia, you know, to have access to growing markets.
With the U.S. economy faltering, Mexico's hoping those Asian markets will keep it from sinking, too.
I'm Dan Grech for Marketplace.