Hermino Blanco, Mexican secretary for commerce and industrial development, said Friday that he expects Mexico and Japan to sign an investment promotion accord in the near future.
Blanco said at a press conference in Tokyo that he is confident the two nations will be able to reach a conclusion on the issue in a few weeks.
He said, however, that it will take longer for Mexico and Japan to conclude a bilateral free trade agreement.
Blanco arrived in Tokyo on Wednesday. He met with International Trade and Industry Minister Takeo Hiranuma and business heads to discuss bilateral economic relations.
During talks with Hiranuma on Thursday, Blanco called for the early start of bilateral talks aimed at drawing up a free trade pact.
Hiranuma welcomed the request but said Japan is not yet ready to begin negotiations with Mexico as it is now focusing on launching talks with Singapore about a free trade agreement.