MEXICO CITY, 11th January, 2025 (WAM) -- The United Arab Emirates 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, 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 percent 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 percent 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 emphasised 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.

Al Zeyoudi said, "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."

During the visit, Al Zeyoudi met with a group of senior officials in Mexico, including Francisco Cervantes, President of the Confederation of Industrial Chambers of Mexico (CONCAMIN). The two sides explored opportunities to strengthen private sector relations and partnerships that would further enhance the growing trade and investment ties between the two countries.

Al Zeyoudi also met with Jose de Jess Rodriguez Cardenas, President of the National Chamber of Commerce, Services, and Tourism, to discuss potential areas of collaboration, attractive investment opportunities in each country, and ways to support and facilitate businesses seeking to expand into both markets.

Additionally, Al Zeyoudi held meetings with numerous businessmen and representatives from leading Mexican companies to identify avenues for deeper economic cooperation.