Mexico and Qatar agree to strengthen bilateral relations

President Enrique Peña Nieto and Emir of Qatar Sheikh Tamim bin Hamad Al Thani agreed to begin a new stage and renew ties between the two countries.

Within the framework of the official visit to Mexico by the Emir of Qatar to mark the 40th anniversary of the establishment of bilateral relations, the leaders talked about Qatar’s interest in investing in Mexico.

Five agreements and memorandums of understanding between the two countries:

·        Air Services Agreement, designed to establish commercial passenger flights between Doha and Mexico City.

·        Memorandum of Understanding between the Bank of Mexico and the Central Bank of Qatar, to exchange information and experience regarding banking regulation, supervision and monitoring.

·        Technical Cooperation Agreement, to promote cooperation in economic, commercial, technical, industrial, mining, energy, agriculture, communications, transport, construction, labor, tourism, education, science and technology issues, among others.

·        Memorandum of Understanding on Youth Cooperation, to promote the development of young people in both countries.

·        Memorandum of Understanding between the Mexican Business Council for Foreign Trade, Investment and Technology and the Chamber of Commerce and Industry of Qatar to increase economic ties between the two countries through coordination between the two business organizations.

Moreover, President Peña Nieto and the Emir of Qatar agreed to begin negotiations for an Agreement on the Reciprocal Protection of Investments.

Qatar has the highest gross domestic product (GDP) per capita in the world, in the order of US$137,161 annually, and by the end of 2015 expects to see a 4.5 percent increase in its GDP.

Qatar is Mexico’s fourth largest trading partner in the Middle East and a key player in the global economy, because of  its large energy reserves and investments. It is also a benchmark in social, educational and environmental matters.

President Enrique Peña Nieto accepted Sheikh Tamim bin Hamad Al Thani’s invitation to visit Qatar in the near future.