Prime Minister Visit to Mexico

11/6/2016 1123 India and the world | Indo-North Americas | View Recent Current Affairs

Prime Minister Narendra Modi visited Mexico as the final leg of his five-nation tour . He hold talks with Mexican President Enrique Pe a Nieto on key bilateral issues. Mexico backed India's NSG bid during the Indian PM's visit.
Highlights:

  • Growth of bilateral relations in economic field, science and technology and global issues dominate the this visit.
  • There is detailed exchange of views on regional issues of mutual interest, including the political and economic developments in Latin America, CELAC and the Pacific Alliance, as well as the current situation in the Asia-Pacific region.
  • Promoting the investment and the use of solar energy. Also, two sides agreed to explore ways and means to boost objectives of the international solar alliance.
  • Opportunities offered by the convergence between the National Digital Strategy of Mexico and the Digital India Initiative.
  • Collaboration in space science, earth observation, climate and environmental studies, and the efficient use of space-related resources available in India as well as in Mexico for remote sensing, advance warning for disaster prevention and launch of satellites between the Mexican Space Agency (AEM) and the Indian Space Research Organisation

Analysis:

  • Both countries are large emerging economies, with similar socio-economic development priorities and constraints, and have democratic, secular, and pluralistic systems, as well as convergent worldviews.
  • Both are at somewhat comparable levels of economic and technological development, and are members of the important G-20, even if Mexico graduated from G-77 to joining OECD in 1994, and also joined NAFTA in 1995.
  • Mexico was the first Latin American country to recognise India after her independence, and both established diplomatic relations in 1950. Mexican wheat variety Sonora was instrumental in India’s Green Revolution
  • Within Asia, India is the largest importer of crude oil from Mexico. India’s major exports to Mexico include pharmaceutical products and automobile parts.
  • In 2015, India was Mexico’s 12th largest trading partner worldwide and its 6th largest in Asia-Pacific. Bilateral trade grew 288.7% between 2005 and 2015, from $1.519 billion USD to $5.908 billion USD.
  • India is the 8th largest investor in Mexico of Asia-Pacific countries and the 42nd largest worldwide.

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