The meeting between the President Higgins and President Enrique Peña Nieto was well timed, as both countries Ireland and Mexico attempt to recharge weak economies. The Irish economy is expanding modestly (GDP growth of just 0.2 per cent this year). Growing exports and encouraging foreign investment are crucial to the recovery and Mexico could help with that.
Mr. Peña Nieto is pushing “transformational” reforms in education, energy, finance and taxation in an effort to jump-start an economy that has clocked only lacklustre growth since 2001. Mexico was hit hard by difficulties in its nearest neighbour, the United States, which accounts for 85 per cent of its trade.
The Mexican government wants to open up oil and gas exploration to private and foreign investment, apply evaluation-based hiring and firing in teaching, and crack monopolies in telecoms and television.
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