Nick Clegg, the Deputy Prime Minister of the UK, is leading a business delegation to the latin American nations of Colombia and Mexico in order to increase trade ties with the countries.

The British delegation will include Conservative Investment Minister Lord Livingston and Mexico Trade Envoy Liberal Democrat peer Baroness Bonham-Carter and 40 UK business leaders in order to focus on the investment opportunities in the two countries. Mr Clegg admitted that the UK's presence in Mexico has been very small and modest for a long time.

"The UK took its eye off the Latin American ball, and as a result we've fallen behind many of our other European competitors," he said before heading to the countries.

Mr Clegg will meet President, Enrique Pena Nieto and convey UK's commitment to strengthening its bilateral trade relations with Mexico. He will announce a new target to double the UK's market share in Mexico to 1.5 per cent by
2020.

Mr Clegg will be the most senior British Government Minister to visit Colombia since 1992. Mr Clegg and President Juan Manuel Santos will aiming to discuss the terms of a new trade and investment target of £4 billion by 2020 for Colombia.