· Mexico wishes to form links with other parts of the world and enhance its opportunities for development and economic growth, he said.

· It is a country with stable, reliable institutions, he declared

· Mexico is open to the world and a meeting point with other nations, he stated. 

· The president participated in the Bilateral Business Forum, the first activity in his state visit to Saudi Arabia.

· He outlined the strengths of our country it wishes to project to the world.

During his participation in the Bilateral Business Forum, Mexican President Enrique Peña Nieto said that during the state visit to Saudi Arabia that begins today, “We will sign various agreements to expand cooperation between our countries, but above all, we wish find greater opportunities for rapprochement and economic relations in areas such as energy, infrastructure and trade, in which both countries undoubtedly have greater potential.”

“We will sign agreements to avoid double taxation; agreements on air services and tourism cooperation and a memorandum of understanding for cooperation in the oil and gas sector,” he told businessmen from Saudi Arabia and Mexico.

The president explained that the state visit to various countries in the Arabian peninsula that begins today in Saudi Arabia is designed to, “Find opportunities and continue to project an open Mexico that wishes to interconnect with different parts of the world and seeks to promote its opportunities for development and growth in economic activities and to strengthen its friendship with other world regions.”

President Peña Nieto said Mexico now has different strengths to project:

“It is a country that is open to the world, where the economic model we have been promoting is designed to turn our country into a meeting point with various nations and expand trade and economic relations between Mexico and the world to ensure well-being with the countries with which we have relations and for our own country, and to make trade liberalization an engine of economic growth and social development.”

He also noted that, “Mexico is a productive platform with global reach. With a unique geographical location; we are a bridge to North America, Latin America, Europe and the Asia-Pacific region.”

He noted that Mexico is a megadiverse country, with the fifth largest territory in Latin America, and fourteenth largest worldwide.

In addition, he continued, it has “a growing logistics infrastructure that allows us to expand our position as a bridge to different parts of the world.” Mexico, he added, is “a country with stable and reliable institutions, whose stability has steadily increased.”

“Nowadays, Mexico has sound public finances, debt levels far below the average for G20 countries; an independent monetary policy and a flexible exchange rate, together with a robust banking system,” he said.

The Mexican president said that, “Mexico is a country with a predominantly young human capital, where 50 percent of our population is 27 years old or less. In our country, 100,000 engineers and technologists graduate annually, and we have also been promoting Education Reform to provide quality education for present and future generations.”

“Mexico is a nation on the rise, it is an open, competitive economy; the fifteenth largest global economy, and in the past five years, it has experienced average annual growth of 3.3 percent. We have also signed 11 free trade agreements with 46 countries in different regions, giving us access to a potential market of 1.15 billion consumers,” he explained.

”We have gone from being a country that predominantly exports raw materials, particularly oil and mining to one that predominantly exports manufactured goods with an increasingly high added value,” he said.

He added that, “Mexico is now the world’s leading exporter of flat screen televisions and refrigerators with freezers; the seventh largest producer of vehicles and the fourth largest exporter of vehicles. Our aerospace industry has experienced annual growth of over 15 percent.”

President Peña Nieto noted that in the past three years, Mexico,  “Has promoted major structural changes to destroy the paradigms and models that allow us to break down barriers and achieve faster economic growth.”

 “We have opened up areas of our economy that were previously closed or state monopolies to private sector participation. Energy Reform undoubtedly enhances the opportunity to exploit our energy resources with private sector participation and investment from sister nations that also have experience in these fields,” he explained.

The president added that Telecommunications Reform has also opened up this sector to private sector participation.

He said that, “Our country has received increasing amounts of Foreign Direct Investment, particularly in recent years. Indeed, in these past three years of the administration I lead, investments of nearly $92 billion USD have been received.”

He declared that, “Tourism, infrastructure and real estate development in Mexico are experiencing greater growth, as borne out by the fact that we have received five thousand Saudi visitors, a figure that is still well below the total potential for tourism.”

President Peña Nieto said that Mexico is now considered among the world’s top 10 tourist destinations. He noted that the updated figures for 2015 show that we may have received over 30 million tourists.

He explained that coffee, fruit, vegetables and other quality foods are Mexican products that are able to participate in the Saudi market.

The president of Mexico wished the Bilateral Business Forum, taking place within his state visit to Saudi Arabia, every success.


Abdullah Bin Abdulrahman Al Zamil, Chairman of the Council of Saudi Chambers said that they are seeking to discover “new horizons for mutual cooperation, and encourage stable, successful partnerships between entrepreneurs from the two countries.”

He said that Mexico, “Is one of the North American countries that has grown most economically. Its economy is based on promising sectors that can develop relations between the two countries, including trade, industry, services and agriculture.”

He said that agriculture is of particular interest for the Saudi economy and those of all the countries in the Arab region and  “is in line with Saudi Arabia’s efforts to ensure long-term food security for its population.”

MEXICO AND SAUDI ARABIA have agreed a PRODUCTIVE trade integration that will contribute to the growth of our economies: ILDEFONSO GUAJARDO

Secretary of Economy Ildefonso Guajardo Villarreal said that the agreement to be signed between the Mexican Business Council for Foreign Trade and the Council of Saudi Chambers will play a strategic role in channeling and identifying the path along which we must continue to take advantage of the business opportunities between our nations.

”Today,” he said, “Saudi Arabia and Mexico are able to converge in the economic context. The two countries have economies in which oil plays an important role, so I am sure there will be many experiences we can share.”

”In the past four decades,” he explained, “our nations have experienced profound development processes that today position them as the leading economic powers in their regions. Saudi Arabia is the largest economy in the Middle East while Mexico is the leading exporter in Latin America.”

”The most palpable sign of growth experienced by our countries can be seen in trade. Mexico is a leading exporter of agroindustrial products, while Saudi Arabia is one of the world’s most important food purchasers,” he added.

He noted that both economies have strategic positions: Mexico in North America and Latin America while Saudi Arabia has key regional leadership that will enable us to enter Middle East markets.

All these factors bring us together but must be developed to become the firm foundation of a successful relationship that creates opportunities and benefits for companies from both countries.