UAE And Mexico Enhance Trade And Investment Relations With New Partnerships

The United Arab Emirates (UAE) and Mexico are enhancing their trade and investment ties, aiming to strengthen connections between their private sectors. During an official visit to Mexico City, Dr. Thani bin Ahmed Al Zeyoudi, UAE's Minister of State for Foreign Trade, engaged with Mexican officials and business leaders to explore collaboration opportunities.

In meetings with Juan Ramon de Lafuente, Minister of Foreign Affairs, and Marcelo Ebrard Casaubon, Minister of Economy, Al Zeyoudi discussed strategies to boost non-oil trade. The discussions focused on sectors of mutual interest and ways to further increase trade volumes. Non-oil trade between the UAE and Mexico grew by 20.8% in 2023, reaching US$2.6 billion from US$2.1 billion in 2022.

Al Zeyoudi highlighted the shared commitment of both nations to enhance trade and investment flows. He emphasised the potential for economic integration through a trade and investment corridor. "The continuous growth in non-oil trade between the UAE and Mexico in recent years underscores the vast potential for new partnerships," he stated.

During his visit, Al Zeyoudi met Francisco Cervantes, President of CONCAMIN, to discuss strengthening private sector relations. They explored ways to enhance growing trade ties between the two countries. Additionally, Al Zeyoudi met José de Jesús Rodríguez Cárdenas from the National Chamber of Commerce to discuss collaboration areas.

The meetings also addressed supporting businesses looking to expand into both markets. Al Zeyoudi engaged with various businessmen and representatives from leading Mexican companies to identify avenues for deeper economic cooperation.

Focus on Key Sectors

In discussions with the Mexican Minister of Economy, Al Zeyoudi focused on encouraging partnerships in agriculture, industry, services, infrastructure, and tourism sectors. They also talked about strengthening supply chains to support joint economic growth.

The positive trend in non-oil trade continued into 2024's first ten months, rising by 1% compared to the same period in 2023, reaching US$2.2 billion. This growth reflects the ongoing efforts to build robust economic ties between the two nations.

Al Zeyoudi's visit underscored both countries' commitment to fostering business collaborations that drive mutual prosperity across various sectors. The focus remains on creating new opportunities that benefit both economies while supporting ambitious economic goals.

The UAE Ambassador to Mexico, Salem Rashid Al Owais, was present during these discussions. His involvement highlights the importance placed on diplomatic support in advancing bilateral relations between the UAE and Mexico.

These efforts aim at establishing a solid foundation for future collaborations that will enhance economic integration and create lasting partnerships between businesses in both countries.

With inputs from WAM