The economic cooperation between Qatar and Mexico is growing fast and steadily. The trade exchange between the two countries is expected to witness a double-digit growth in 2018 and beyond as both sides are working to expand and deepen the bilateral ties in several new fields, including agro-food, infrastructure, energy, civil aviation, healthcare, sports, and many other promising sectors.
Several members of the recently-concluded visit of the Mexican trade mission, which comprised top executives and business leaders from 20 leading Mexican companies, have expressed their keen interests to establish and expand economic cooperation with Qatar.
“The economic cooperation with Qatar is expanding rapidly and steadily, especially in the field of trade, economics and investment in new areas. As a result, the bilateral trade volume between Mexico and Qatar, which stood at about QR730m ($200m) in 2017, is expected to register over 20 percent growth in 2018 and the coming years,” Juan Cepeda, Director of ProMexico (Middle East), the trade and investment promotion arm of the country’s Ministry of Economy, told The Peninsula.
Cepeda added: The trade delegation, which represented prominent companies in the field of oil and gas, healthcare, sports, agro-food, art, and other sectors, met senior government officials, and expressed their business and investment plans and projects. Some of the projects are in line with the preparations for the 2022 FIFA games.”
He said that both sides reviewed bilateral relations during their meeting. They also exchange ideas and ways to boost the ties. To facilitate trade and smooth cooperation both sides established a Qatar-Mexican Business Council in collaboration with Qatar Chamber and its Mexican counterpart during the visit.
Mexican avocados, which are considered to be the best in the world, are expected to hit the local market within weeks.
A trading company— Coliman— signed a deal with a leading retailer in Qatar to supply some four containers of avocados every month. A couple of other Mexican firms from the medical and healthcare sector (London 4 Group and Comerlat) have announced to provide tailored services to local healthcare facilities which will help improve their performance and cost efficiency significantly.
Yet another world renowned Mexican firm, Pineda Covalin, a fashion design brand that works to promote Mexican culture on a national and international scale, has opened its first showroom at Alhazm, which is also the first outlet of the firm in the Middle East.
Mexico, over the last several years, has successfully diversified its economy from the oil and gas industry. It has become one of the leading manufacturers and exporters of many items, including refrigerators, cars and many other items. The North American economy has already started exporting some popular car brands to Qatar.
Another Mexican company, Tenaris Tamsa, one of the global manufacturers and suppliers of steel pipes and tubes for the energy industry, is working to expand its operations in Qatar and the region. The company has already established a representative office in Qatar.
Several other Mexican firms are also working to play important roles in the run-up-to the preparations and hosting of the mega event in Qatar. One of them is Comsa, which is expected to provide ambulance services during the World Cup in 2022.