· It is also
one of 10 nations rated as having the best investment climate for creating
clean energies, he said.
· He proposed
setting up a monitoring group to enable Kuwaiti businessmen to find out about
Mexico and its investment opportunities, and for Mexican businessmen to have a
presence in Kuwait.
· He hailed
the fact that TAMSA company has announced investments of $150 million USD in
Kuwait. Let this be an example and a spearhead of the great
economic relationship we can build between Kuwait and Mexico, he said.
participated in the Mexico-Kuwait Business Forum.
today, President Enrique Peña Nieto participated in the Mexico-Kuwait Business
Forum, at which he told businessmen from both countries about some of the
changes that have taken place in our country in the past 40 years, when
diplomatic relations began between Mexico and Kuwait, which now make it
possible to intensify and strengthen bilateral relations in various fields.
Peña Nieto said that efforts are being made with Kuwait to find areas of
opportunity to narrow the investment gap and for Kuwaiti entrepreneurs to
discover that Mexico is a reliable country to invest in.
that, “International consultants rate Mexico as one of the world’s 10 most
reliable investment destinations. As regards financing new energies, Bloomberg has
positioned Mexico as one of the 10 top countries out of a total of 30, with the
best investment climate for generating clean energy.”
president said that since the establishment of relations between Mexico and
Kuwait 40 years ago, “We have had an incipient trade and a close, fraternal
relationship, yet one that has fallen short of promoting mutual investment
between the two countries and exploring more opportunities.”
proposed the establishment of, “A specific monitoring group that allows Kuwaiti
entrepreneurs to find out about Mexico, to be present and see and experience
our country, its strengths, its conditions and the great opportunities it may
have, and at the same time to meet their counterparts in Mexico so that they
too can have a presence in this country.”
Peña Nieto welcomed the fact that TAMSA company has announced that it has
signed a $150 million USD contract to invest in Kuwait. “This means
jobs in Mexico, investment here in Kuwait, and nearly doubles the level of
trade we had built in 40 years.”
Let this be
an example and a spearhead of the great economic relationship we can build
between Kuwait and Mexico, he said.
that, “This economic relationship we wish to build has a purpose: bring two countries that have a
fraternal relationship and a friendship closer together and find opportunities
so that the reciprocal investments and trade in which they engage will provide
well-being development and opportunity for our societies.”
At the event,
held during the framework of his tour of countries in the Arabian Peninsula,
the Mexican president declared that in recent years, 13 structural reforms have
been introduced in Mexico, opening up investment opportunities in different
areas, which will undoubtedly enable, “Our country to achieve conditions of
further development in various areas.”
He said that
following the passage of Energy Reform in 2015, electricity tariffs for the
industry in Mexico were only 13 percent higher than in the United States,
compared with rates in 2012 in this sector, which were 84 percent higher.
explained that in the hydrocarbons sector, “Various rounds of bidding have been
held in an open, transparent process, breaking a 60-year-old paradigm in Mexico
to achieve private sector participation.”
of all this structural change is to leverage our strength and our potential for
production, energy development and better and more efficient exploitation of
the resources we have in the ground,” he said.
president declared that another sector where there are great opportunities to
invest in our country is telecommunications. “The
Telecommunications Reform has opened up this sector to enable more companies to
provide mobile and Internet services in better conditions for users, which is
undoubtedly a key element in the competitiveness we can have as a country,” he
PRODUCTION AND TRADE BETWEEN MEXICO AND KUWAIT MUST IMPROVE: ALI MOHAMMED THUNAYAN Al GHANIM, PRESIDENT OF
THE KUWAIT CHAMBER OF COMMERCE AND INDUSTRY
Thunayan Al Ghanim, President of the Kuwait Chamber of Commerce and Industry,
said that improved bilateral relations between Mexico and Kuwait will improve
production and trade between the two countries.
develop this trade, we are friendly countries with a long history. That is what
the friendship between our countries represents today, together with the
confidence to leverage this.”
that advantage must be taken of our proximity in various sectors, not only in
agricultural production. We must also discuss issues on the subject of
energy infrastructure to improve strategies and develop the competition between
both countries for investments, he added.
“We also wish
to strengthen these bilateral relations between our nations in order to be more
attractive to various investors in the future,” he added.
SIGNING OF AGREEMENTS
state visit, the Mexican President met with His Highness Sheikh Sabah Al Ahmad
Al Jaber Al Sabah, Emir of Kuwait, at Bayan Palace.
President and the Emir of Kuwait exchanged decorations: the president
awarded the Decoration of the Order of the Aztec Eagle, Collar Grade, and
received the Decoration of the Mubarak the Great Award, Collar Grade.
The Emir of
Kuwait was distinguished by United Nations Secretary General Ban Ki-moon as an
Exemplary Humanitarian Leader for his contribution to addressing the crisis in
Syria and Iraq in 2014.
Peña Nieto and the Emir of Kuwait witnessed the signing of the following
agreements and memoranda in the Treaty Room at Bayan Palace:
1. Memorandum of
Understanding on Academic and Diplomatic Cooperation to promote cooperation
activities in the field of diplomatic training through the exchange of
Agreement in culture and art, to establish the basis for mutual understanding
and to support the development of our cultural identity by promoting an approach
to the arts and cultural events.
3. Memorandum of
Understanding on Tourism. Tourism promotion initiatives will be designed to
increase bilateral tourism flows, with an emphasis on luxury, adventure and
4. Memorandum of
Understanding on Energy Cooperation, taking into account the experience and
expertise of both countries.
Agreement on Higher Education, to promote activities that contribute to strengthening
mutual understanding in education.
6. Air Services
Agreement to establish and operate specific routes and scales.
7. Memorandum of
Understanding on Health, for cooperation in health and medical science, based
on the principles of equality, reciprocity and mutual benefit.
8. Memorandum of
Understanding on Cooperation and Investment between ProMéxico and Kuwait Direct
Investment Promotion Authority to promote and expand trade relations.
9. Memorandum of
Understanding between the Mexican National Council of Science and Technology
(CONACYT) and the Kuwait Institute of Science and Research for cooperation in
the fields of science and technology, on the basis of equality and mutual
Protocol between the National Foreign Trade Bank (Bancomext) and the Kuwait
Chamber of Commerce and Industry, which provides for various cooperation
activities such as corporate transactions, corporate loans, project financing
facilities and asset finance.
Cooperation Memorandum of Understanding between Bancomext and Kuwait National
Bank, which provides for various cooperation activities such as corporate
transactions, corporate loans, project financing facilities and asset finance.
Peña Nieto also met with Marzouq Ali Al-Ghanim, President of the Kuwait
National Assembly, who informed him that the Kuwait Foreign Affairs Commission
has already approved the Agreement for the Promotion and Reciprocal Protection
of Investments, which will be voted on in the House on January 26.
of Mexico also met with His Highness Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah,
Prime Minister of Kuwait. He was accompanied by Claudia Ruiz Massieu,
Secretary of Foreign Affairs, and Francisco Ortiz Guzman, head of the
He also met
with Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah, Deputy Prime Minister and
Minister of Foreign Affairs of Kuwait.
Emir of the State of Kuwait hosted a State Luncheon for President Peña Nieto in
the Banquet Hall at Bayan Palace.
At the end,
the President of Mexico and the Emir of Kuwait traveled in the same car to the
Emir’s Terminal at Kuwait International Airport, where the farewell ceremony
was held, at which the national anthems of the two countries were played and
the Mexican president reviewed the Guard of Honor.