UAE and Mexico strengthen trade and investment ties

Sharjah 24 – WAM: The United Arab Emirates and Mexico are deepening their trade and investment relations, with a focus on fostering stronger partnerships between their private sectors and business communities.

Official visit to Mexico City

Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, visited Mexico City, where he engaged in discussions with senior Mexican officials and business leaders to explore new opportunities for collaboration and partnership.

Bilateral meetings with Mexican officials

Al Zeyoudi, accompanied by UAE Ambassador to Mexico Salem Rashid Al Owais, held key meetings with Juan Ramon de Lafuente, Minister of Foreign Affairs, and Marcelo Ebrard Casaubon, Minister of Economy. Topics included enhancing cooperation in sectors of mutual interest and strategies to expand non-oil trade between the two nations.

Trade growth between UAE and Mexico

Non-oil trade between the UAE and Mexico has seen steady growth, reaching US$2.6 billion in 2023, a 20.8% increase from 2022. This positive trend has continued in 2024, with trade rising to US$2.2 billion in the first ten months, a 1% increase from the same period in 2023.

Expanding private sector partnerships

Al Zeyoudi and the Mexican Minister of Economy discussed supporting private-sector partnerships in sectors like agriculture, industry, services, infrastructure, and tourism. They also addressed the strengthening of supply chains to boost joint economic growth.

Commitment to economic integration

Both nations are committed to further strengthening their trade and investment flows. Al Zeyoudi emphasised the potential for economic integration through the creation of a trade and investment corridor that aligns with their respective economic goals.

Meetings with Mexican business leaders

During his visit, Al Zeyoudi met with several senior officials, including Francisco Cervantes, President of the Confederation of Industrial Chambers of Mexico (CONCAMIN). The meetings focused on enhancing private-sector relations and exploring new opportunities for collaboration between the business communities of both countries.

Al Zeyoudi also held discussions with José de Jesús Rodríguez Cárdenas, President of the National Chamber of Commerce, Services, and Tourism, to identify attractive investment opportunities and ways to support businesses expanding into both markets.

Strengthening economic cooperation

Throughout the visit, Al Zeyoudi met with various businessmen and representatives from prominent Mexican companies to identify areas for deeper economic cooperation and continued growth in trade and investment.