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Mexican Economy on the Rise, and Expanding Korea-Mexico Economic Cooperation

Four strategies are required to push the currently unbalanced, stagnant Korea-Mexico economic relationship towards development. The first would be a “converged cooperation strategy,” which creates the most powerful model for cooperation by converging the strong points that each country possesses in different areas. Next would be a “win-win cooperation strategy” that utilizes Korea’s comparative technology advantage and successful industrialization experiences to help solve the troubles in the Mexican economy. Third is an SME cooperation strategy. Priority measures to consider in expanding cooperation between Korean and Mexican SMEs are the new establishment of a Korea-Mexico Technology Innovation Center, to support SME technology cooperation and exports, and the creation of a Korea-Mexico SME Forum to serve as a network for SME cooperation. The fourth and final strategy would be to form a basis for institutional cooperation. The best institutional infrastructure for expanding economic cooperation with Mexico is an FTA.
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