Qatar, Mexico to strengthen economic, trade relations

Qatar and Mexico have expressed keen interest in strengthening bilateral trade and economic relations through strategic partnerships between the public and private sectors.
At the Qatar-Mexico Business Forum held at the St Regis Hotel yesterday, Mexican President Enrique Pena Nieto met with HE the Minister of Energy and Industry Dr Mohamed bin Saleh al-Sada and Qatar Chamber chairman Sheikh Khalifa bin Jassim bin Mohamed al-Thani.
Aside from trade and economic ties, Nieto said there are many investment opportunities Qatar and Mexico could explore in the energy, agriculture, tourism, and infrastructure sectors.
During the forum, Bancomext director general Alejandro Diaz de Leon signed agreements with QNB Group CEO Ali Ahmed al-Kuwari, Commercial Bank CEO Abdulla Saleh al-Raisi, and Doha Bank CEO Dr R Seetharaman.
Speaking to Gulf Times on the sidelines of the event, Juan Ignacio Gallardo Thurlow, chairman and CEO of holding company, Organizacion Cultiba SAB de CV, said: “The agreement between these banks aims to ease the flow of funds in both directions to make sure that funding is available for the projects that are being looked up.”
In a speech, Sheikh Khalifa said, “The visit of Mexican president Enrique Pena Nieto puts on our shoulders more responsibilities to help and discover different investment opportunities available for the two countries.”
Citing potential investment projects for the Qatari private sector, ProMexico CEO Francisco N Gonzalez Diaz said Mexico is planning to open public bidding for hydrocarbons exploration and production. Other projects include the $30bn expansion plan for Mexico’s natural gas requirements, expansion of the country’s transmission network with the installation of an additional 60 gigawatts for power generation, and the $116bn modernisation of its national electricity system.
“New investment opportunities have been reached, specifically in sectors like transportation, storage of crude, and treatment and refining… aside from hydrocarbons, Mexico aims to derive 35% of its energy from other clean sources like solar, wind, geothermal, and hydroelectricity by 2025,” Diaz said.
After the forum, Nieto left for the Emiri Diwan to hold official talks with HH the Emir Sheikh Tamim bin Hamad al-Thani and “to review bilateral relations between the two countries and ways of enhancing them in all fields, particularly in economy and investment.”
Both heads of state also witnessed the signing of several agreements and memoranda of understanding (MoU), including agreements for co-operation in cultural and artistic fields; for co-operation in the energy field, and for co-operation in education, sports, and media.
A memorandum of understanding was also signed between the Supreme Committee for Delivery and Legacy and ProMexico, and a letter of intent between the Qatar Foundation for Education, Science and Community Development and the Mexican Foreign Ministry.