AUGUSTA – Gov. Angus King plans to travel to Mexico with Maine business leaders later this year as part of his latest foreign trade mission.

More than a dozen businesses already have signed up for the trip Nov. 3-10 to Mexico City and Guadalajara, said Richard Coyle, president of the Maine International Trade Center, a joint public-private organization that’s involved in the planning.

Mexico was chosen because of its growing economy and potential for business contracts. The country has experienced a period of strong growth and its economy is expected to grow by 4.5 percent next year.

In addition, several tariffs are expected to be phased out during the next few years, King said in a statement from his office.

“Mexico has long been one of the nation’s most valuable trading partners, and the opportunities for Maine businesses are enormous,” King’s statement said.

The mission will involve business matchmaking, market briefings and seminars on how to identify potential customers.

Maine exports to Mexico have increased from nearly $28 million seven years ago to $40 million last year.

Total U.S. exports to Mexico were $734 million in 1999, about 71 percent of that country’s import market.

King said transportation equipment comprises about half of Maine’s exports to Mexico. Other exports include electronic equipment, paper products and machinery.

Last November, King led a trade mission to Germany and the Netherlands. Previous missions have taken him to Japan, Argentina, Brazil, Great Britain, Taiwan, Hong Kong and Canada.

For businesses unable to make the trip to Mexico, the international trade center will hold a virtual trade mission Nov. 5-6 that will feature teleconferencing and an orientation to Mexico’s cultural and business climate.