UAE and Mexico to further boost trade ties

The UAE and Mexico are advancing their trade and investment relations, focusing on fostering partnerships between their private sectors and business communities.

During an official visit to the capital, Mexico City, Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, discussed with senior Mexican officials and business leaders opportunities to increase collaboration and build new partnerships between the two countries.

In the presence of Salem Rashid Al Owais, the UAE Ambassador to Mexico, Al Zeyoudi held bilateral meetings with Juan Ramon de Lafuente, Minister of Foreign Affairs, and Marcelo Ebrard Casaubon, Minister of Economy.

During the meetings, prospects for increased cooperation in sectors of mutual interest were discussed, along with strategies to further increase non-oil trade, which has seen sustained growth between the two countries in recent years. In 2023, non-oil trade between the UAE and Mexico increased by 20.8% to US$2.6 billion, compared to US$2.1 billion in 2022. The positive trajectory continued in the first ten months of 2024, rising to US$2.2 billion, a 1% increase compared to the same period in 2023.

In his meeting with the Mexican Minister of Economy, Al Zeyoudi discussed how to encourage and support private-sector partnerships between the two countries in sectors such as agriculture, industry, services, infrastructure, and tourism.

They also discussed strengthening supply chains to serve their mutual interests and support joint economic growth.

Al Zeyoudi emphasized the shared commitment between the UAE and Mexico to continue strengthening trade and investment flows in line with the ambitious economic goals of both nations and highlighted the potential for economic integration through the establishment of a trade and investment corridor.