The Fifth Meeting of India-Mexico Bilateral High Level Group on Trade, Investment and Cooperation (BHLG) took place virtually on 9th October, 2020.
The Bilateral meeting was chaired by Anup Wadhawan, Commerce Secretary of Government of India, and Ms. Luz Maria de la Mora, Vice Minister for Foreign Trade of the Government of Mexico.
i.The two sides reviewed & appreciated the progress made bilateral trade and commercial relations between India & Mexico.
ii.The issues discussed included Audio-visual Co-production, Bilateral Investment Treaty, market access for agricultural products, cooperation framework on Sanitary and Phytosanitary (SPS) & Technical Barriers to Trade (TBT).
iii.The two sides also discussed cooperation in Intellectual Property Rights, and ways to promote tourism and people-to-people contact between India and Mexico.
Memorandum of Understanding (MoU):
Both sides signed two business to business MoUs:
i.MoU between ESC India & CANIETI:
An MoU was signed between the Electronics & Computer Software Export Promotion Council (ESC) of India and the Mexican Chamber of Electronics, Telecommunications and Information Technologies (CANIETI).
ii.MoU between FICCI & COMCE:
An MoU was signed between Federation of Indian Chambers of Commerce and Industry (FICCI) and Mexican Business Council of Foreign Trade, Investment and Technology (COMCE) for promotion of development of business relations between India and Mexico.
Diversifying Trade relationship:
The two sides also agreed to diversify the trade relationship through cooperation in pharmaceuticals, medical equipment, healthcare, agro-products, fisheries, food processing and aerospace industry.
Recent Related News:
i.On September 15, 2020, Mexico became the first country in the world to inaugurate a sustainable financing program for the achievement of Sustainable Development Goals (SDGs) by issuing a seven-year Sovereign SDGs Bond worth USD 890 million.
President – Andrés Manuel López Obrador
Capital – Mexico City
Currency – Mexican Peso (MXN)