RIYADH: Mexico’s Deputy Finance Minister, Gabriel Yorio Gonzalez, expressed Mexico’s keen interest in enhancing economic relations with Saudi Arabia, highlighting the “infinite opportunities” in a rapidly transforming nation.
During his two-day visit to Riyadh, Gonzalez emphasized Mexico’s desire to become a partner as Saudi Arabia undergoes rapid transformation.
“We do see infinite opportunities for partnering…to strengthen ties, including sustainable financial markets,” Gonzalez stated. “We have a shared interest in increasing trade, food security, energy transition, sustainable infrastructure, and water.”
The minister’s visit to the Kingdom, which took place from May 28 to May 29, was part of a broader Gulf-wide tour aimed at attracting inward investment to Mexico and bolstering economic cooperation with Gulf states.
Mexico Expects Longstanding Ties With Saudi Arabia
“We are expecting to build a longstanding relationship with Saudi Arabia, and in this sense, increasing economic and financial cooperation is key,” Gonzalez emphasized. “We want a vibrant presence in this beautiful country.”
Gonzalez highlighted that this was the first time Mexico had sent a delegation from the Ministry of Finance and the Ministry of Foreign Affairs to Saudi Arabia, demonstrating the significance of the visit. He emphasized the need to bring together firms and enterprises from both countries to identify synergies and promote cooperation in areas such as culture, tourism, and water desalination.
“Both countries are engaging in infrastructure projects that will be transformative for our people, and for that, we will need to mobilize resources,” Gonzalez noted.
He further highlighted that Mexico is currently benefiting from the nearshoring trend, with international firms relocating to the country to take advantage of free trade agreements and strong economic fundamentals.
During their visit, the Mexican delegation had the opportunity to explore NEOM’s “The Line” exhibition and the King Abdullah Financial District, further deepening their understanding of Saudi Arabia’s development projects.
The Mexican Embassy emphasized that this visit was part of the commitments made by the Foreign Minister, Marcelo Ebrard, during his visit in March of the previous year, which commemorated 70 years of diplomatic relations between the two countries.
