Mexico City, Jun 2 (EFE).- Mexico and Spain committed on Tuesday to work toward doubling bilateral trade and increasing investment by at least 50% by 2030, marking a new phase in their economic relationship supported by the modernized agreement between Mexico and the European Union.
Minister of Economy, Trade and Enterprise, Carlos Cuerpo, set this target during a business meeting in Mexico City with Economy Secretary, Marcelo Ebrard. Both officials advocated for an “ambitious” and “long-term relationship between two strategic partners.”
“We want to continue increasing that bilateral investment and also trade between our countries,” Cuerpo stated, adding that, commercially, both nations could “set an even more ambitious goal and try to double trade” by 2030.
Ebrard accepted the Spanish official’s proposal and raised the stakes for the bilateral commitment.
“I’ve accepted the full challenge. It’s a lot of work now, but we’ll do it,” the Mexican Secretary responded, recalling that he had initially proposed a 50% increase in investment, exports, and economic presence with the EU.
“I had said 50%; he says 200, well, okay, we’re going for 200%. This tells you the size of the challenge and the ambition we have to increase our flow of trade and investment,” Ebrard added.
The proposal follows the signing of the modernized agreement between Mexico and the EU, which both officials presented as the framework that will provide clear rules, predictability, and facilities for the economic relationship over the coming decades.
“There are uncertainties in the world, but not in the relationship between the EU, and specifically Spain, with Mexico. On the contrary, it is already very clear what the rules are, how they work, what facilities we have, and now the challenge is to take advantage of that opportunity,” Ebrard explained.
Cuerpo agreed that the message from both countries is one of cooperation, trust, and the defense of rules-based commercial exchanges, especially in an international context marked by tariffs, protectionism, and uncertainty.
The Spanish Vice President highlighted that bilateral investment currently stands at around 100 billion euros, and Spain seeks to reinforce it in strategic sectors such as energy, finance, infrastructure, water, and technology.
Ebrard maintained that Spain is the second-largest foreign investor in Mexico and that the Mexican government wants Spanish companies to participate in the country’s new commercial phase.
“We want Spanish companies to be part of the stage that Mexico is now facing in this new organization of commerce,” he affirmed.
Both officials argued that the relationship is currently experiencing a moment of strengthening, following the recent visit of Mexican President Claudia Sheinbaum to Spain and her meeting with Spanish Prime Minister Pedro Sánchez.
For Ebrard, there are no obstacles to Spanish investment in Mexico, but rather a “great opportunity” opened up by the new EU agreement and the extensive Spanish business presence in the country, which he estimated at more than 5,400 companies.
Cuerpo will meet this afternoon with Mexican President Claudia Sheinbaum, accompanied by more than 60 Spanish companies. He emphasized that this demonstrates “full confidence” in the Mexican economy. EFE
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