India, Mexico look forward to boost trade ties at 5th bilateral meet

New Delhi (NVI): India and Mexico today held the fifth bilateral meeting to foster cooperation in areas of trade, investment, and promote tourism between the two countries.

The fifth meeting of the India-Mexico Bilateral High Level Group on Trade, Investment and Cooperation (BHLG) was held through video conference, the Ministry of Commerce & Industry said in a statement.

In the meeting, two business to business MoUs were signed, to boost cooperation in the trade, investment, technology and a few other 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.

Another 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.

They also 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.

During the meeting, the two sides appreciated the progress made in the bilateral trade and commercial relations between India and Mexico in the recent years, the Ministry said.

Apart from that, 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, 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, the Ministry said in a statement.

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, Luz María de la Mora.

-ARK