A delegation from the Dubai Investment Development Agency (Dubai FDI) recently toured Mexico and Panama as part of its growing focus on the Americas as a major source market for investment and trade into the UAE.
Fahad Al Gergawi, chief executive officer (CEO), and Khalid Al Boom, deputy CEO of Dubai FDI, interacted with business representatives and investors in Mexico City and Panama City, briefing them on the benefits of doing business in Dubai and the infrastructure and services in the emirate.
"Recent developments are set to enhance the UAE's bilateral engagement with Mexico and Panama. Our visit was aimed at expanding our coverage of the strategic markets across the Americas and enabling investors and businesses in Mexico and Panama to make the best use of remaining connected with the UAE, particularly Dubai," said Al Gergawi.
Recently, ProMexico, a Mexican trade promotion body, opened its office in Dubai to enhance trade and investment between the two countries. Panama City will be connected to Dubai with the longest commercial flight in the world when Emirates starts flying between the two cities in February.
"Mexico is a key regional player with solid economic fundamentals and 90 per cent of its trade is under free trade agreements. It has a rapidly developing and modern industrial and vast agricultural sectors and services account for over 70 per cent of GDP. A major thrust in the country's economic strategy is on revamping its infrastructure. Dubai can provide the right ground for Mexico's export-oriented economy to achieve its desired growth," said Al Gergawi.
The Dubai FDI team addressed a gathering of 90 people representing key businesses and investors in Mexico City. A special session was also organised for strategic investors in Mexico.
"We saw a high level of awareness about Dubai and interest in doing business in Dubai. The Mexicans were particularly interested in the manufacturing, agricultural and trading sectors and in machinery and financial services, particularly sukuk. Francisco Alonso, the Mexican Ambassador to the UAE, and Enrique Abod, director of the ProMexico office in Dubai, gave valuable support, connecting us with Mexican businesses and investors," said Al Gergawi.
In Panama City, Dubai FDI highlighted the benefits of having direct air connectivity to Dubai and exploring common ground.
"Similar to Dubai, Panama is also a strategic logistics hub as Panama Canal passes through the country. Both economies are dominated by the services sector. Dubai's expanding free zones and Dubai Maritime City present further opportunities for collaboration as its flagship registry and free zones have played a lead role in making Panama the second largest economy in Central America," added Al Gergawi.
