UAE-Mexico non-oil trade hits $1.3bn in ’16

ABU DHABI / WAM

The non-oil trade between the UAE and Mexico hit US$1.3 billion during 2016, with the two countries continuing to strengthen economic ties and other trade relations at different levels, according to a Ministry of Economy report.
The ministry has issued the report based on the World Trade Organisation 2017 Trade Policy Review on Mexico as part of the ministry’s efforts to improve public-private awareness of the economic reform policies and frameworks adopted by the UAE’s major trade partners.
The report sheds light on the key developments experienced by the American nation’s economy over the past period and the efforts made by the Mexican government to improve the investment landscape and promote businesses with other world countries.
The report noted that the Mexican economy has been progressing progressively during the period from 2012 through 2016 , explaining that Mexico’s Gross Domestic Product grew by 1.4 percent in 2013 (down from 4 percent in 2012) and by around 2.5% in 2014 and 2015. Nevertheless, during the period under review average GDP growth was close to 3%, approximately double the rate in the previous review period.