Ministry of Economy Discusses Collaboration on Trade and Investment with Mexico

Abu Dhabi-UAE: 16 September, 2014 - His Excellency Juma Al Kait, Undersecretary for Foreign Trade Affairs, Ministry of Economy, welcomed a Mexican delegation at the Ministry’s offices in Abu Dhabi. The visiting delegation was led by Cesar Fragoso Lopez, Minister Plenipotentiary for Asia and Pacific, Mexico's trade promotion agency (ProMexico).  

During the meeting, the two sides discussed economic cooperation with the aim of exploring ways to further enhance mutual trade and investment relations in light of the joint agreements between the two friendly countries.  

His Excellency Al Kait offered the visitors a brief on the UAE’s major economic developments and the government’s efforts towards strengthening the economic status of the country regionally and globally. The Undersecretary offered an overview of the UAE’s endeavor to build a knowledge-based economy, highlighting the opportunities available to Mexican businesses in the UAE across a variety of sectors. The guests were handed copies of the Spanish edition of the book Why UAE, which sheds light on facilities and incentives offered to investors and businesses in the UAE. 

Commending the economic developments of the UAE, the Mexican delegation said the visit comes as part of efforts to pave the way for further economic and investment cooperation between Mexico and the UAE. The visitors outlined Mexico’s efforts to attract investments as part of its attempt to reduce dependency on oil and achieve economic diversification. 

The UAE and Mexico have agreements on avoiding double taxation and investments protection. Trade volume between the two countries is estimated at US$ 1.7 billion.