In a speech on November 15^th, William Hague, who is the UK Secretary of State for Foreign and Commonwealth Affairs, spoke about the many possibilities for mutual growth that a stronger cooperative relationship between Mexico and Great Britain could bring about.

“History teaches us that Britain has a track record of underestimating Latin America and neglecting its opportunities,” he stated. “It is this neglect that the British government is determined to address.”

Historically speaking, Weetman Pearson has been one of the most influential British businessmen to work directly with Mexico. Throughout the early part of the 20^th century, Pearson worked to secure a number of contracts to complete important public works projects in Mexico real estate, most notably the building of the Gran Canal, modernizing the Port of Veracruz and rebuilding the Tehuantepec Railway. Pearson developed close working relationships with Mexico's political power players, ultimately developing an empire founded on engineering and oil that would make him one of the richest men in Britain.

Although Pearson's success was remarkable, it has not been the norm throughout the 20^th century, which saw an overall decline in commercial links between the UK and Mexico. Today, the British government has vowed to reverse this trend, sending delegations to Mexico and other countries in Latin America in an effort to build stronger relationships, bolster trade and discuss the mutual business opportunities that may be available, focusing on things the British government can do to support and encourage additional investment.

“The trade and investment relationship between our two countries [Britain and Mexico] is a key theme for my visit,” said UK Foreign Office Minister Jeremy Browne. “There is a huge amount of unrealized potential for further trade between our two nations.”

In cooperation with these efforts, Mexican president Felipe Calderón has announced that both countries have a shared goal to double their bilateral trade, reaching GBP 4.2 billion by 2012, and has opened a Mexican Chamber of Commerce in the UK this year.