Mexican President Vicente Fox on Tuesday called on Japanese businesses to promote more trade with and investment in his country to strengthen economic ties between the two nations.

Attending a meeting with business leaders in Tokyo, Fox said Japanese companies that operate in Mexico have several advantages, including low-cost labor and duty-free access to the U.S. and European markets.

Mexico has signed free trade agreements with 31 countries, including the U.S. and the European Union.

Fox also said the Mexican government is working to provide a stable business environment to enable foreign investors to make a long-term commitment by stabilizing the nation’s legal systems and reducing inflation and interest rates.

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