(MENAFN- Kuwait News Agency (KUNA)) A Mexican economic delegation, currently on a visit to Kuwait, stressed the importance of developing bilateral ties and commercial exchange between the two countries.
Mexico currently sits at the 14th place in the international economy list, and is considered the number one commercial partner for the US, Mexican Deputy Minister for Foreign Affairs Carlos de Icaza said during his meeting with members of Kuwait Chamber of Commerce and Industry on Monday.
Meanwhile, he noted that his country's GDP is estimated at over USD one trillion per year, adding that the official statistics released by international organizations show that Mexico would be the eighth biggest economy in the world by 2050.
On his part, CEO of ProMexico investment company Francisco Diaz said that his country's commercial exchange with Arab states is limited, noting that Mexico's exports to the Arab World do not exceed USD 1.17 billion, while the Arab imports were only recorded at USD 1.6 billion.
Diaz also noted that Mexico has signed free trade agreements with 64 countries and commercial integration agreements with six others, calling on Kuwait to increase investment between the two sides.
Mexico's main exports are in the field of food, car industries and oil and gas, said the CEO, adding that his country is looking forward for further investments in the fields of renewable energy, oil refinery and natural gas processing.
In the same context, Second Deputy Chairman of the Kuwait Chamber of Commerce and Industry Abdulwahab Al-Wazan stressed that Kuwait is eager to develop investments and economic cooperation with Mexico mainly in the oil and gas sector, noting the prominent political ties shared by the two countries.
He added that Kuwait is looking forward to the upcoming visit of Mexican President Enrique Pena Nieto early 2016, hoping that it would be an opportunity to boost economic cooperation.
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