UAE and Mexico will overcome distance to come closer

Emirati and Mexican businesses have a great opportunity to invest in each other's markets, writes Abdulla bin Touq Al Marri

Abdulla bin Touq Al Marri, the UAE Minister of Economy, writes why ties with Mexico will prove fruitful. Courtesy Wam

As the UAE accelerates its transition to a more flexible economic model, driven by comprehensive policies that are designed to revive and support vital economic activities, the country also celebrates the 45th anniversary of diplomatic relations with Mexico, a historical milestone in bilateral ties with the Latin American country.

In recent years, relations between the UAE and Mexico have flourished with the support and patronage of both governments and thanks to a shared aspiration to deepen co-operation in a number of fields. The success of these joint efforts is reflected in the non-oil foreign trade volume between the two countries, valued at $1.4 billion in 2019 – a 16 per cent growth from the previous year.

Earlier this year, a UAE delegation attended the ”Mexico-UAE Business and Trade Forum” in Mexico, with an aim to facilitate deeper collaboration and co-operation between the business communities of both countries and highlight promising business opportunities in both markets. Such endeavours reflect our shared commitment to promote economic, commercial and investment co-operation; develop partnerships, facilitate exchange of experiences among SMEs; and establish more channels to connect business leaders from both countries. Mexico's decision to grant UAE citizens visa-free entry will add more value to our efforts in this regard.

As we continue to navigate the challenges brought about by the spread of Covid-19, the strengthening of communication channels and trade and investment ties between the two countries has become more important than ever before. Despite the geographical distance, we continue to encourage Emirati companies and investors to pursue opportunities in a diverse array of vital sectors in the Mexican market. We also welcome more Mexican businesses and investments to our shores.

Mexico is a promising global market for us. There is much to explore within the context of UAE-Mexico relations, and we look forward to stimulating mutual investment and partnerships across a multitude of sectors, which will serve as vital channels for co-operation in the next phase of our evolving ties.

Abdulla bin Touq Al Marri is the UAE Minister of Economy

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