$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

  • Artificial Intelligence is Transforming Mexico’s Financial SectorArtificial Intelligence is Transforming Mexico’s Financial Sector
  • Mexico’s IRS Chief Evaluates Blacklisting the United States as a Tax Haven (REFIPRE)Mexico’s IRS Chief Evaluates Blacklisting the United States as a Tax Haven (REFIPRE)
  • AmericaAmerica's Passion for Guns: Ownership and Violence by the Numbers
  • US Breaks Ground on New Embassy in Mexican CapitalUS Breaks Ground on New Embassy in Mexican Capital
  • Cape Town Drought Declared a Cape Town Drought Declared a 'National Disaster'
  • Canada and the U.S Exchange Criticism Amid Rising Tensions over NAFTA NegotiationsCanada and the U.S Exchange Criticism Amid Rising Tensions over NAFTA Negotiations
  • Oxfam: Deputy Resigns Over Sex Claims Amid Crisis TalksOxfam: Deputy Resigns Over Sex Claims Amid Crisis Talks
  • TrumpTrump's Infrastructure Blueprint Labelled a 'Scam'
  • Mexico Leads OECD Nations in Reducing Mobile Interconnection RatesMexico Leads OECD Nations in Reducing Mobile Interconnection Rates
  • OPINION | Perversely, good economic news has spooked the stock marketsOPINION | Perversely, good economic news has spooked the stock markets
  • Disney raises prices of U.S. theme parks’ ticketsDisney raises prices of U.S. theme parks’ tickets
  • New York State sues Weinstein CompanyNew York State sues Weinstein Company
WATCH LIVE TV



Most Read Articles
Most Watched Videos
  • Generations Riviera Maya
  • Mayair

Language

Mexico News Network
All rights Reserved 2018