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14/10/2020 11:44am

India- Mexico to boost bilateral Trade & Investment Cooperation

image India- Mexico to boost bilateral Trade & Investment Cooperation

New Delhi, Oct 14 (KNN) Aiming to strengthen business relations between India and Mexico, business to business MoUs were signed in the fifth meeting of the India-Mexico Bilateral High Level Group on Trade, Investment and Cooperation (BHLG). The meeting was held on 9 October 2020 through video conference.

The Electronics & Computer Software Export Promotion Council (ESC) of India signed Memorandum of Understanding (MoU) with and the Mexican Chamber of Electronics, Telecommunications and Information Technologies (CANIETI).

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

Both the countries were agreed to expand and diversify the bilateral trade relationship to tap the potential of the complementarities between India and Mexico through enhanced cooperation in pharmaceuticals, medical equipment, healthcare, agro-products, fisheries, food processing and aerospace industry etc. A ‘Joint Statement’ after the successful conclusion of the meeting was issued.

The meeting was co-chaired by the Commerce Secretary of the Government of India, Dr. Anup Wadhawan and the Vice Minister for Foreign Trade of the Government of Mexico, Ms. Luz María de la Mora. Several Ministries, Departments and Business Chambers from both countries participated in the meeting.

The two sides appreciated the progress made in the bilateral trade and commercial relations between India and Mexico in the recent years. Both sides discussed a number of bilateral ongoing and outstanding issues, ranging from Audio-visual Co-production.

They also discussed Bilateral Investment Treaty, market access for agricultural products, a cooperation framework on Sanitary and Phytosanitary (SPS) & 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.

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