Hamleys to push into Latin America
Children’s toy retailer Hamleys is to open a shop in Mexico for the first time as part of a renewed push for British businesses to operate in the central American country.
Ahead of the state visit of the Mexican president Enrique Pena Nieto, the toy department store is this week expected to confirm that Mexico will be the site of its first shop in Latin America, adding to its existing network across Europe, Asia and the Middle East.
Hamleys will be joined by luxury car manufacturers Lotus and McLaren, who are also poised to target Mexico for exports by opening showrooms in Mexico City. At the same time, to coinicide with the visit, the Government is due to unveil a new $1bn (£650m) export credit facility to help British firms export to the country.
Bilateral trade between the UK and Mexico stood at £3.3bn in 2013, up by 15pc against the previous year, with Mexico the UK’s fourth largest market for goods exports.
The Mexican president arrives in London on Monday, but his three day state visit will begin officially on Tuesday, when he will be formally welcomed by the Queen. As well as meeting David Cameron, the Prime Minister, he will visit Aberdeen, where he will meet North Sea oil producers on Thursday.