$1.5bn investment in farming this year

By Elliot Bullman

Industry association aims to maintain double-digit growth through Asian expansion

Agriculturalfirms are set to invest US $1.5 billion this year in modernization and development, according tothe presidentof the National Agricultural Council(CNA).

Portada inversion agricultura

In an interview with the newspaper Milenio, Bosco de la Vega Valladolid saidthe investment would focus on boosting protected farming, such as greenhouses, pressurized irrigation systems, revamping of storage facilities and logistics and certification strategies.

De la Vega said the boom being experienced by the industry, with exports worth almost US $30 billion ayear, has attracted entrepreneurs from other industries who are eager to capitalise on it.

Riego_en_haciendas_de_incluencia_del_Distrito_de_Riego_y_Drenaje_de_La_Ramada

Commenting on international trade issues, he saidit wasmore important than ever to completea healthy renegotiation of NAFTA, given the failure ofthe Trans-Pacific Partnership Agreement.

The CNA presidentstressed that Mexico must diversify its exports toward the Asian market. A nation such asSouth Korea, for example, imports $29 billion worth of produce, of which only $900 million comes fromMexico.

He believes that figure could easily be doubled in a couple of years, with an adequate strategy, fewertariffs or even by signing a free trade agreement with that nation.

greenhouse 880636_960_720

RELATED NEWS

  • New oilfield found in the Gulf of MexicoNew oilfield found in the Gulf of Mexico
  • What changes does the new SAT invoice have?What changes does the new SAT invoice have?
  • Reducing deficits and recovering jobs, US goals in NAFTAReducing deficits and recovering jobs, US goals in NAFTA
  • Cancun, Acapulco and Los Cabos will have Tourist PoliceCancun, Acapulco and Los Cabos will have Tourist Police
  • Trump is running out of options to deal with north koreaTrump is running out of options to deal with north korea
  • China and Germany cover the leadership vacuum left by the United StatesChina and Germany cover the leadership vacuum left by the United States
  • UNESCO will add places to the World Heritage Sites listUNESCO will add places to the World Heritage Sites list
  • OECD sees pension collapse in Mexico within five yearsOECD sees pension collapse in Mexico within five years
  • BuffettBuffett's masterpiece will make him Bank of America largest shareholder
  • Pacific Alliance could be an alternative to TPPPacific Alliance could be an alternative to TPP
  • Mexican astrophysicist receives recognition from Queen Elizabeth IIMexican astrophysicist receives recognition from Queen Elizabeth II
  • The obstacles facing TrumpThe obstacles facing Trump's solar wall

Language

Mexico News Network
All rights Reserved 2017