Home Business-newBusiness Over 50 deals will be signed during Peña Nieto’s six-day Middle East tour

Over 50 deals will be signed during Peña Nieto’s six-day Middle East tour

by Yucatan Times
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The governments of Saudi Arabia and Mexico signed nine economic and cooperation agreements on Sunday January 17th during Mexican President Enrique Peña Nieto’s visit to Riyadh, the official SPA news agency reported.

Peña Nieto met with Saudi King Salman bin Abdulaziz and the two leaders later presided over the signing of the agreements and memoranda of understanding, as well as the inking of an accord covering bilateral technical cooperation.

The agreements cover tourism, energy, double taxation and tax evasion.

Another agreement was signed by the Saudi Development Fund and Mexico’s state-owned Banco Nacional de Comercio Exterior, or Bancomext.

The two countries also signed several bilateral security agreements and accords on fighting organized crime.

Peña Nieto and the Saudi king discussed areas for cooperation and global affairs, the news agency said.


King Salman bin Abdulaziz presented Peña Nieto with the kingdom’s founders medal and the Mexican leader awarded the Order of the Aztec Eagle to the Saudi ruler. (Photo: Arab News)

The Aztec Eagle is the highest Mexican recognition presented to non-Mexican heads of state for their services to Mexico and for rendering services to humanity; it is made up of 30 pieces of gold-plated silver and decorated with the Mexico City Aztec emblem.

Mexican Energy Minister Pedro Joaquin Coldwell said Mexico was particularly interested in the Gulf states’ large investment funds, “which represent an opportunity for Mexico to capture investment.”
Mexico is keen to attract investment to its oil sector after Peña Nieto undertook reforms that ended state-run firm Pemex’s 77-year monopoly.

Peña Nieto and his wife, Angélica Rivera, wearing an obligatory veil, arrive in Riyadh. (Photo: Mexico News Daily)

Peña Nieto’s tour of the Middle East will take him to Saudi Arabia, the United Arab Emirates, Qatar and Kuwait.

The president will participate in business events in each country as part of an effort to help Mexico enter the Middle Eastern markets.

Pena Nieto and bin Zayed

Pena Nieto and Sheikh bin Zayed of Abu Dhabi.

On Monday January 18th, Sheikh Mohammed bin Zayed, Abu Dhabi Crown Prince and Deputy Supreme Commander of the Armed Forces, met with Peña Nieto at Al Mushrif Palace in Abu Dhabi.

On Tuesday January 19th, President Peña Nieto decalred before  businessmen fron the United Arab Emirates that Mexico does not intend to become isolated from the rest of the world and is looking forward to establish business relationships with other nations, in order to development opportunities and welfare for Mexican society.

The President of Mexico called upon UAE investors to benefit from his country’s lucrative business environment by establishing new economic partnerships between Mexican businesses and their UAE counterparts.

Speaking at the UAE-Mexico Business Forum organised by Dubai Chamber of Commerce and Industry in partnership with the Mexico Embassy in the UAE and ProMexico, a trust fund of the Mexican Government that promotes international trade and investment, on Tuesday, Peña Nieto said the Mexican government was keen to build on the long-time ties enjoyed by the two countries.

”The Government of Mexico is committed to enhancing co-operation between our business communities in every possible way,” he said, adding that this Forum, which was attended by over 100, is evidence of this commitment.

On Wednesday January 20th, Peña Nieto’s state visit to Kuwait, gave its first results with the closing of a 150 million dollars investment from Tenaris Tamsa, a Mexican company dedicated to the construction of steel pipes.




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