The UAE and Mexico are bolstering trade and diplomatic ties, focusing on private-sector collaboration and economic integration. Recent high-level discussions in Mexico City emphasized mutual interests, non-oil trade growth, and future opportunities across key industries.
Trade Milestones and Key Sectors:
In 2023, non-oil trade between the two nations surged by 20.8%, reaching $2.6bn from $2.1bn in 2022. The upward trend continued in the first ten months of 2024, hitting $2.2bn, a modest 1% increase year-on-year.
Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, met with Mexican officials, including Marcelo Ebrard Casaubon, Minister of Economy, to explore collaboration in agriculture, infrastructure, tourism, and industry. Discussions also highlighted strategies to strengthen supply chains and create a trade and investment corridor to drive economic integration.
Strengthening Private-Sector Collaboration:
Dr. Al Zeyoudi also engaged with Francisco Cervantes, President of CONCAMIN, and other Mexican business leaders. The meetings focused on fostering private-sector partnerships and enhancing bilateral relations.
“The continuous growth in non-oil trade between the UAE and Mexico underscores vast potential for new partnerships. This opens doors for collaboration across numerous sectors, driving mutual prosperity,” Al Zeyoudi stated.
As both nations align their economic ambitions, these strengthened ties are expected to accelerate shared growth and create broader opportunities for business communities.