Midland automotive suppliers will be encouraged to consider entering the Mexican market as a launchpad into North America at a seminar today.
Mexico is the 11th largest auto producer in the world and is expected to increase the number of cars it produces from the current level of 1.8 million cars per year.
Carmakers like GM, DaimlerChrysler, Volkswagen, Ford and Honda all have manufacturing plants in the country while there are more than 250 tier one suppliers based there.
A seminar has been organised by UK Trade and Investment for Midland firms to take advantage of the market.
Steve Martin, head of trade development for the automotive sector at UKTI, said: "The Mexican market in itself is massive, but there are also opportunities for British companies to use Mexico as a bridge into the North American market which is the biggest in the world.
"In 2003 Mexico exported $11.6 billion of components but imported $15.5 billion, so there are big opportunities for our companies to sell their products there."
Mr Martin said manufacturers could either export direct into Mexico or set up joint ventures with tier one and tier two companies over there.
"There are many OEMs and tier one companies already set up over there and they have lots of requirements for components.
" GM for example has requirements for $300 million of stamping products and $ 27 million of catalytic converters.
"The object of this seminar is to tell local manufacturers about the opportunities and tell them how we can help them.
"We have a strong team in Mexico who are in contact with the OEMs and tier ones companies, so we can help match companies to their requirements.
"There are also organised and assisted visits."
The seminar, which is being held at the TechnoCentre at Coventry University's Technology Park, begins at 10am.
Among the speakers will be industry leaders from Mexico and UK who will present their experience of winning business and offer practical advice. Speakers will include managers from General Motors and tier one supplier Clevite, plus managers from UK companies NPL and Avon automotive, which have run plants in the country.
Performance Fluids, which enjoyed sales success in Mexico, will give the SME perspective.
Mr Martin said: "There has been a lot of talk about China and India, but Mexico has somehow slipped under the radar. We have got good quality companies with good technology and they can link up with firms in Mexico and take advantage."