5th India-Mexico High level Group on Trade, investment and cooperation held
The fifth meeting of India Mexico bilateral high-level group on trade, investment and cooperation was held virtually. The countries reviewed their bilateral trade and commercial relations.
Key highlights
The countries discussed bilateral investment treaty, audio visual co-production, cooperation Framework on phytosanitary and sanitary products, market access for Agricultural Products and technical barriers to trade. The countries also discussed on cooperation in intellectual property rights. They held talks about ways to promote tourism and people to people contact.
The countries also agreed to diversify their trade relationship in the the fields of medical equipment, pharmaceuticals, Agro products, Healthcare, fisheries, Aerospace and food processing industries.
Agreements signed
During the fifth meeting of bilateral high level group on trade investment in cooperation, the countries signed two Memorandum of understanding. An MoU was signed between Mexican Chamber of Electronics telecommunication and information Technologies, called CANIETI and Electronics and Computer software export Promotion Council of India, called ESC.
Also, Memorandum of understanding was signed between the Mexican Business Council of foreign trade investment and Technology, called COMCE and Federation of Indian Chambers of Commerce and industry, called FICCI.
Mexico and sustainable development goals
In September 2020 Mexico became the first country to inaugurate a sustainable financing programme to achieve SDGs. The programme focused on a 7 years sovereign bond of 890 million USD. These bonds will help in achieving sustainable development goals.
India and Mexico
Both India and Mexico are the members of G20 and United Nations. The trade between the countries amount to 10 billion USD. There are more than 174 Indian companies operating in Mexico. However, the Indian community in Mexico is very less and it is around the 5500.
India mainly exports gems, jewellery, Textiles, software and leather to Mexico. India imports, fertilizers, machinery, petroleum and Chemicals from Mexico.
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Month: Current Affairs - October, 2020