REYNOSA, Tamualipas – The ambassador of China in Mexico, Qiu Xiaoqi, announced in Reynosa that oil companies from his country will invest almost $400 million in oil exploration infrastructure off the coast of Matamoros, Tamaulipas.

The diplomat visited several cities on a two-day tour. Xiaoqi said a Chinese oil company will invest $7,500 million pesos, equivalent to about 394 million U.S. dollars, in the coming years in the exploration and extraction of oil in deep waters in the Gulf of Mexico, just off the coast from Matamoros.

Qiu Xiaoqi

Xiaoqi was accompanied by Tamaulipas Governor Francisco Garcia Cabeza de Vaca at a press conference held at the Reynosa Cultural Park. There, the two met with young students. Xiaoqi said Mexico and China were at an “historic moment” with both countries experiencing transformation in various sectors.

Xiaoqi stressed the importance of oil exploration cooperation with the State of Tamaulipas, a state he visited with Chinese investors. These investors already have investment in the state and are now exploring new opportunities, the ambassador said.

“We have come with the political will to develop cooperation in different areas with the State of Tamaulipas. We have seen the changes and transformations that this state from northern Mexico has experienced and there is interest in working together,” Xiaoqi said.

Xiaoqi pointed out that China is currently the second largest commercial partner of Mexico at the international level and Mexico is the second most important partner for his country in Latin America.

Xiaoqi explained that there are many opportunities to explore both in China and Mexico and that both are emerging countries with sustained economic growth. For this reason, he said, there interest in strengthening cooperative ties.

The ambassador of China in Mexico said he was in favor of increasing the presence of oriental investments in Tamaulipas, especially in areas such as technology and wind farms.

The diplomat said that there is also interest in cultural and educational exchanges, pointing out that his country annually grants scholarships to Mexicans interested in studying in China.

Francisco Garcia Cabeza de Vaca

“Every year we deliver in Mexico City scholarships that the Chinese government offers to Mexican students in addition to others that nongovernmental institutions give young people in this country in order to achieve educational exchanges, since we are developing a network of competitive universities in China,” he said.

Xiaoqi said that an educational exchange between Mexico and China can promote the development of human resources, since young people represent the future of nations.

“A country with strong human resources for invocation has a bright future,” he said after reiterating the interest of Chinese investors have in investing in Tamaulipas.

“In the educational field we can do many things, such as offering good opportunities for students to raise the level of innovation, science and technology as we are in a phase of sustained growth for the economy of this state,” he said.

Tamaulipas Governor Garcia Cabeza de Vaca said that many world-class companies agree with Xiaoqi that Tamaulipas is “the energy state par excellence,” with investments in this sector fully promoted.

García Cabeza de Vaca pointed out that just a few days ago, Tamaulipas inaugurated the Reynosa Wind Farm, the largest such facility in Mexico and Latin America.