|
|
India, Mexico discuss cooperation in hydrocarbons
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 24 Oct, 2014
India and Mexico Wednesday discussed the possibilities of cooperation in
the hydrocarbon sector, especially in the wake of reforms initiated by
the Mexican government in the energy sector.
Both also inked a Memorandum of Understanding (MoU) in space cooperation.
India
is the largest buyer of Mexican crude oil in Asia and the third largest
overall globally. Private and public sector Indian companies are
seeking more opportunities in this sector.
The issue came up
during the Sixth Session of the Joint Commission Meeting between India
and Mexico that was presided over by External Affairs Minister Sushma
Swaraj and Mexican Foreign Affairs Minister Jose Antonio Meade
Kuribrena.
This was the first joint commission meeting held under the chairmanship of the two foreign ministers.
The
meeting was part of the efforts of the two countries to move the
relationship to a higher trajectory, said a statement from the external
affairs ministry.
India's relations with Mexico have deepened and
strengthened in the last few years. Bilateral trade has increased
appreciably. In 2010, it was $2.81 billion and it currently stands at $7
billion annually. The trade is almost evenly balanced.
The two
sides signed an MoU on space cooperation under which they will cooperate
on issues like remote sensing, satellite communication, capacity
development and other mutually beneficial areas relating to cooperation
in outer space for peaceful purposes, the statement said.
India's
exports mainly comprise organic chemicals, vehicles and auto parts,
electrical machinery and equipment, mineral fuels and oil,
pharmaceuticals, textiles and garments, gems and jewellery. India's
imports mainly consist of crude oil.
The two ministers discussed the reforms which are underway in both countries.
Mexico is taking steps to pass and implement new labour laws and fiscal laws in the telecom sector and in the field of energy.
Sushma
Swaraj informed her Mexican counterpart that there are similar
challenges in India and the government has also initiated several
reforms to stimulate economic growth aimed at putting the Indian economy
on a high-growth trajectory in the near future.
Mexico will be
setting up an 'India Room' in the National Museum of Cultures in Mexico
City. India has gifted 108 pieces for this purpose.
India will
be celebrating the 60th anniversary of bilateral relations with Mexico
next year and proposes to launch a "Days of India in Mexico".
Both
the countries have also agreed to institutionalise bilateral mechanism
on consular issues and discussed how they relate to their respective
diaspora.
The Mexican foreign minister handed over to Sushma
Swaraj an invitation from the president of Mexico inviting Prime
Minister Narendra Modi to visit Mexico at his earliest convenience.
The two sides are expected to further consult on this through diplomatic channels, said the statement.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|