Economy

India, Mexico agree to expand, diversify bilateral trade ties

Our Bureau. New Delhi | Updated on October 13, 2020 Published on October 13, 2020

India and Mexico have agreed to expand and diversify bilateral trade ties and tap the potential of the complementarities between the two countries. For this purpose, the two sides have agreed to enhance cooperation in pharmaceutical, medical equipment, healthcare, agri-products, fisheries, food processing and aerospace industries.

This emerged at the fifth meeting of the India-Mexico Bilateral High Level Group on Trade, Investment and Cooperation (BHLG) held on October 9 through video conferencing.

The meeting was co-chaired by Commerce Secretary Anup Wadhawan and Vice-Minister for Foreign Trade of the Government of Mexico, Luz María de la Mora.

The two sides appreciated the progress made in the bilateral trade and commercial relations between India and Mexico in recent years. Both sides discussed a number of bilateral ongoing and outstanding issues, ranging from audio visual co-production, bilateral investment treaty, market access for agricultural products, cooperation framework on Sanitary and Phytosanitary (SPS) and Technical Barriers to Trade (TBT) measures between the two countries, co-operation in the Intellectual Property Rights, and exploring ways to promote tourism and people-to-people contact between India and Mexico.

In the meeting, two business-to-business MoUs were signedto foster the cooperation in the respective domains. A Memorandum of Understanding between the Electronics & Computer Software Export Promotion Council (ESC) of India and the Mexican Chamber of Electronics, Telecommunications and Information Technologies (CANIETI), was signed, an official release said.

An MoU between the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Mexican Business Council of Foreign Trade, Investment and Technology (COMCE) for promoting the development of business relations between India and Mexico was also signed, the release added.

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Published on October 13, 2020
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