Singapore and the United Mexican States have entered into an Investment Guarantee Agreement today at the sidelines of the Asia Pacific Economic Conference (APEC) Ministerial meeting.

This agreement is aimed at strengthening bilateral economic relations between the two countries.

The Minister for Trade and Industry of Singapore, Mr. Lim Hng Kiang and the Secretary of Economy of Mexico, Mr. Gerardo Ruiz Mateos signed the deal on the behalf of the two countries.

The total bilateral trade between the two countries increased by 25% to reach S$3 billion in 2008, which made Mexico Singapore’s fourth largest trading partner in Latin America and 33rd largest in the world.

Contract manufacturing for electronic OEMs, logistics and infrastructure are the main areas where Singapore has invested in Mexico.