Trade between Mexico and UAE grew by 38 percent in last five years

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Mexican agricultural goods like berries, chickpeas, beef, tomatoes, avocados are entering markets of the UAE.
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  • The bilateral trade between 2016 and 2020 registered an average annual growth rate of 6.7 percent, from $511m in 2016 to $705.1m in 2020.
  • Mexico has the capacity to be a strategic partner for it in the agri-food sector, said Martha Delgado Mexican Vice Minister for Multilateral Affairs.

Mexico-UAE bilateral trade has witnessed an approximate 38 percent upsurge in the past five years (2016-2020), a senior Mexican official told the Emirates News Agency.

She added that Mexico wants to be a strategic partner for the UAE in agri-food sector, said reports.

“The bilateral trade between 2016 and 2020 registered an average annual growth rate of 6.7 percent, from US$511 million in 2016 to US$705.1 million [37.9 percent increase] in 2020,” said Martha Delgado.

Delgado is the Mexican Vice Minister for Multilateral Affairs and Human Rights who was on an official visit to the UAE recently.

“For Mexico, the UAE is a strategic partner in the Middle East. It was our second-largest trading partner in the region in 2020 and 47th partner worldwide,” she said as per the sources.

The bilateral relations between Mexico and the UAE have experienced significant development in the political, economic, commercial and cultural sectors, the vice minister noted.

Mexico’s foreign economic policy prioritizes strengthening the relations with all Arab countries, and it recognizes the UAE’s international importance and economic potential,” she emphasized.

The reports say that the minister noted “Bilateral economic relations are stronger and closer than ever, and our participation at Expo 2020 Dubai gave us the opportunity to share thoughts and strengthen our ties.”

Expo is becoming the epicenter of the global economic recovery since the beginning of the pandemic, she said according to local news.

“The UAE is recognized as an important international market and Mexico has the capacity to be a strategic partner for it in the agri-food sector,” Delgado affirmed.

A lot of Mexican agricultural goods like berries, chickpeas, beef, tomatoes, avocados, asparagus, among others are entering markets of the UAE and negotiations are underway to export other agricultural products to it, she said.

“For the UAE, Mexico represents an access to the Latin American and Caribbean region, and for Mexico, the UAE has been a gateway to the Middle East,” she pointed out as per the sources.

A long history of ties, legal frameworks Mexico and the UAE have a long history of collaboration, and along the years, the bilateral legal framework has been enriched by several agreements and memorandums of understanding (MoUs), Delgado noted.

The agreements for promotion and protection of investments, the cooperation between the national institutions of both the countries, an agreement to Avoid Double Taxation and Prevent Tax Evasion, as well as an MoU in energy and financial matters, are important ones, she explained.

“Recently, we signed an MoU to implement the Global Logistic Passport between the Mexican Government and DP World, which has the potential to boost the exchange of goods and services worldwide, said the minister.

The proposed opening of a trade office in Mexico City of the Dubai Chamber of Commerce and Industry would also strengthen bilateral economic and commercial ties, the official affirmed.

“The UAE and Mexico have several mutual interests in the international arena, and as members of the UN Human Rights Council, we will be able to push a common agenda on human rights,” the vice minister said.

“We expect to have an open and enriching dialogue with the representatives from the UAE when the 50th session of the Human Rights Council begins.”

The UAE has been elected for the third time as a member of the UN Human Rights Council for 2022-2024.

Climate Change is also an issue that both countries deem important, as both countries hold two MoUs on cooperation in the energy sector, clean energies and related matters.

“Mexico welcomes the UAE initiative to achieve Net Zero by 2050,” she said.

In late 2018, the Mexican and UAE governments first signed a diplomatic MoU on mutual visa exemption that envisaged citizens of both countries to be allowed visa-free entry to each other’s countries.

In January 2020, the UAE government announced visa-free entry for Mexican nationals, a month after Dubai’s Emirates Airlines made its inaugural flight to Mexico City via Barcelona.

She said that that tourism can be a catalyst for wellbeing, and a visitor can become an investor, a cultural ambassador, a client for high-level medical services and a resident that wishes to spend their later years in our country,” she said.

 

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