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UAE and Mexico strengthen $2.6 billion trade partnership
UAE Minister Al Zeyoudi stressed the need to strengthen private-sector partnerships in key areas such as agriculture, industry, services, infrastructure, and tourism.
The UAE and Mexico are enhancing their trade and investment ties, emphasizing the importance of private-sector partnerships. During a recent visit to Mexico City, UAE Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, engaged with senior Mexican officials and business leaders to identify fresh opportunities for collaboration and economic growth.
The discussions focused on strengthening ties in key sectors and further accelerating the growth of non-oil trade, which has been on an upward trajectory. In 2023, bilateral non-oil trade between the UAE and Mexico surged to $2.6 billion, marking a 20.8% rise from the $2.1 billion recorded in 2022.
This positive trend continued into the first ten months of 2024, with trade reaching $2.2 billion, a 1% increase compared to the same period in 2023.
In discussions with Marcelo Ebrard Casaubon, Mexico’s Minister of Economy, Dr. Thani bin Ahmed Al Zeyoudi highlighted the significance of enhancing private-sector partnerships across vital sectors such as agriculture, industry, services, infrastructure, and tourism. The talks also delved into strategies for fortifying supply chains to drive mutual economic growth and resilience.
Dr. Thani bin Ahmed Al Zeyoudi emphasized the UAE and Mexico’s shared commitment to bolstering trade and investment flows, aligning with their respective economic ambitions. He highlighted the immense potential for deeper economic integration through the establishment of a robust trade and investment corridor aimed at unlocking new opportunities and strengthening bilateral ties.
“The continuous growth in non-oil trade between the UAE and Mexico in recent years underscores the vast potential for new partnerships between our business communities, opening the door to further opportunities for collaboration across numerous sectors that will drive mutual prosperity.”
Al Zeyoudi also met with Francisco Cervantes, President of the Confederation of Industrial Chambers of Mexico (CONCAMIN), to discuss ways to further strengthen private sector relations and enhance growing trade and investment ties.
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