Financial Times FT.com

Trade: Diversification becomes commercial watchword

By Adam Thomson

Published: November 14 2008 16:36 | Last updated: November 14 2008 16:36

Over the past few years, Mexico has started to export asparagus to the European Union, developed a niche market selling horse meat to Belgium and even discovered a business selling marigolds to India.

The efforts are part of the most serious push in decades to reduce Mexico’s huge dependence on the US market and to diversify its exports – both in terms of product and destination. “Diversification is one of the dominating priorities of this administration,” says Bruno Ferrari, a Mexican entrepreneur now in charge of ProMéxico, the government’s investment promotion agency.

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