Highlights

5th edition of India Mexico bilateral meeting high-level group on trade, investment and cooperation was held virtually on 13 oct 2020. India-Mexico reviewed their commercial and bilateral trade relations.

Points To Note

  • India-Mexico discussed their bilateral investment treaty and audio-visual co-production.
  • Market access for Agricultural Products, cooperation framework for phytosanitary and sanitary products, and technical barriers to trade were also discussed.
  • Both countries also discussed about the cooperation in intellectual property rights (IPR).
  • India-Mexico discussed the ways to promote tourism and people to people contact between both the countries.

Bilateral Agreements

India-Mexico signed 2 MoU during the 5th meeting of bilateral high level group meeting. Memorandum of understanding include:

  1. Memorandum of understanding between the Mexican Chamber of Electronics telecommunication and information Technologies and Electronics and Computer software export Promotion Council of India
  2. Memorandum of understanding between the Mexican Business Council of foreign trade investment and Technology and Federation of Indian Chambers of Commerce and industry.

Mexico and SDG

In September 2020, Mexico became the first country to inaugurate a sustainable financing programme to achieve sustainable development goals. The sustainable financing programme focused on a seven years sovereign bond of $890 million. These bonds will help in achieving sustainable development goals.

India and Mexico Bilateral Relations

India and Mexico bilateral relation dates back to 1500. Then the relations and trade were carried out by the Spanish who used to trade through the Manila-Acapulco Galleon. In 1947, United Mexican States was the first Latin American country that recognised the independence of India from the UK. thereafter, both India and Mexico established their diplomatic relation on 1 August 1950. Presently, India and United Mexican States are the members of G20 and UN. Their trade stands at $10 billion. More than 174 Indian companies operates in United Mexican States. India exports gems, jewellery, Textiles, software and leather to Mexico and imports machinery, fertilizers, petroleum and Chemicals from United Mexican States.

India-Mexico 5th High level Group