As part of the Mexico-Kuwait Business Forum, organized by the Kuwait
Chamber of Commerce and Industry and PROMÉXICO, the Mexican
president stressed the importance of strengthening bilateral relations with
Kuwait as a key partner in the Middle East.
Energy Reform Opportunities
• Energy Reform significantly modified the legal
framework after seven decades. This opens up the value chain in hydrocarbons and
practically all the electricity industry to private investment.
• As a result of the Reform, business opportunities
are emerging in petroleum exploration and extraction, transport, storage,
industrial processing and marketing.
• The aim is to attract capital and technology to
enable public and private enterprises to access land, deep and shallow water
and unconventional oil deposits and undertake secondary and improved recovery activities.
• This will increase the supply of fuel and its
derivatives for Mexico, ensuring availability and reducing the cost to Mexican businesses
• In 2015, contracts were assigned to 30 companies
from seven countries, giving rise to a new energy industry in Mexico.
• Kuwait’s energy companies have shown interest in
the bidding process taking place in Mexico.
• A plan has been published detailing the blocks
and fields to be tendered, together with another plan for the expansion of the
natural gas transport system. This allows investors to make forecasts and define
their strategies with clear, accurate, technically reliable information.
• It also opens up opportunities for the
maintenance and construction of electricity transmission and distribution lines
as well as for the installation or upgrading of power plants, especially those
using renewable energy.
Mexico-Kuwait Bilateral Relations:
- Kuwait is Mexico’s fifth largest trading partner among Middle East countries.
- It is the 10th
largest investor in Mexico among Middle East countries.
- In addition to energy, tourism, infrastructure and
real estate development are areas with great investment opportunities.
- In trade, there are also opportunities for Kuwaitis
to enjoy more Mexican products such as coffee, fruit, vegetables and other
quality food in addition to high value-added manufacturing.