UAE and Mexico Strengthen Trade and Investment Ties

The United Arab Emirates (UAE) and Mexico are advancing their economic relations with a focus on private-sector partnerships and new business opportunities.

During an official visit to Mexico City, Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, met with senior Mexican officials and business leaders to explore ways to boost collaboration between the two countries.

Accompanied by UAE Ambassador to Mexico Salem Rashid Al Owais, Al Zeyoudi engaged in bilateral discussions with key figures, including Juan Ramon de Lafuente, Mexican Minister of Foreign Affairs, and Marcelo Ebrard Casaubon, Mexican Minister of Economy. Topics of discussion included increasing non-oil trade and identifying growth sectors for cooperation, such as agriculture, industry, infrastructure, services, and tourism.

The UAE-Mexico trade relationship has been growing steadily, with non-oil trade rising by 20.8% in 2023 to reach US$2.6 billion. This positive trend continued into 2024, with a 1% increase in trade during the first ten months of the year, totaling US$2.2 billion.

Al Zeyoudi emphasized the potential for further collaboration, stating,

"The continuous growth in non-oil trade underscores the vast potential for new partnerships, driving mutual prosperity."

He also discussed ways to strengthen supply chains and foster economic integration through a trade and investment corridor.

Throughout the visit, Al Zeyoudi met with several prominent Mexican leaders, including Francisco Cervantes, President of CONCAMIN, and José de Jesús Rodríguez Cárdenas, President of the National Chamber of Commerce, to explore opportunities for expanding private sector relations and supporting businesses seeking to enter both markets.

News Source: Emirates News Agency