UAE-Mexico non-oil foreign trade to reach $1.4b: Mansoori

Business Bureau, Gulf Today

The non-oil foreign trade between the UAE and the Mexico is estimated to reach $1.4 billion in 2019, up from approximately $1.2 billion in 2018 and recording a growth of more than 15 per cent, said Engineer Sultan Bin Saeed Al Mansoori, UAE Minister of Economy during the UAE delegation’s participation in the ‘Mexico-UAE Business and Trade Forum.’

He furthed added that the UAE government remains keen to develop and diversify aspects of cooperation with our partners in Mexico at the government level and also by encouraging Emirati investments and business activities in Mexican markets and the whole of Latin America.

Al Mansoori discussed ways to further develop economic cooperation frameworks with Mexico during a number of bilateral meetings with Mexican ministers and other government officials, held in connection with the UAE delegation’s participation in the ‘Mexico-UAE Business and Trade Forum,’ hosted by Mexico. The UAE delegation to Mexico and Colombia, led by Al Mansoori, consisted federal and local government officials and selected business-owners and representatives from the UAE’s private sector.

The visit was attended by Ahmed Hatem Al Menhali, UAE Ambassador to Mexico; and Francisca Elizabeth, Mexican Ambassador to the UAE; while the UAE delegation included Abdullah Bin Ahmed Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade Affairs and Mohammed Nasser Hamdan Al Zaabi, Director of the Trade Promotion Department at the Ministry of Economy.

During Al Mansoori’s meeting with Miguel Torruco Marques, Mexican Minister of Tourism, both sides discussed ways to boost tourism exchanges between the UAE and Mexico by encouraging tourists.

Al Mansoori emphasised that tourism development is a major focus area for the UAE, in view of the sector’s potential to drive economic diversification efforts in order to achieve sustainable development. In this regard, Mexico, with its natural and heritage diversity, is an important partner for the UAE to boost tourism cooperation with, he added.

The Minister of Economy also explained that investing in the tourism and hospitality sector is one of the priorities of Emirati companies investing abroad with its vast capabilities and experiences in this sector, he noted the importance of the recent airline that Emirates operates, which links Dubai and Mexico via Barcelona.

Meanwhile, the Mexican Minister of Tourism welcomed the UAE delegation, and pointed out that the ongoing construction of a new airport in Mexico City, set to be completed within two years, will enable the UAE’s airlines to strengthen its network to Mexico and the Caribbean. It will help enhance air connectivity between the two countries, as there are not many UAE tourists arriving in Mexico currently. Although the numbers are small, the tourist inflows witnessed an 18 per cent growth in 2019, compared to 2018, he noted.

During his meeting with Ernesto Fernandez, Deputy Minister of Economy of Mexico, on behalf of Her Excellency the Minister of Economy, Al Mansoori discussed the importance of identifying top priority areas for cooperation during the next phase. The discussions focused on the development of joint action plans in the fields of agriculture, food security, renewable energy, industry, innovation, technology and logistics.

Al Mansoori also held discussions on the importance of cooperation efforts between the two countries in priority sectors such as food security, innovation, renewable energy, SMEs, logistical services, and air transport with Al Fonso Romo, Chairman of the Economic Development Council. Furthermore, both sides discussed ways to enhance communication at the cultural, tourist and popular levels.