Türkiye, Mexico could boost economic relations with new fields of collaboration

The foreign minister of Mexico told Anadolu Agency that Türkiye and Mexico should look into new areas of collaboration in order to strengthen economic relations.

Although Marcelo Ebrard stated that the desired trade volume between the two nations is $5 billion, there is no reason why it couldn’t be expanded.

Regarding the effect that a free trade deal would have on Turkish-Mexican economic relations, Ebrard stated that an increase in investment is always a significant result of a free trade agreement, especially in the early years. Therefore, it seems sensible to explore this option.

When asked which industries the two nations will concentrate on for collaboration in the near future, Ebrard mentioned all those associated with the auto industry.

However, he also pointed out that there are chances for Turkish and Mexican collaboration in the fields of aviation, shipbuilding, semiconductors, and medical equipment.

Ebrard emphasized that Mexico is the world’s 14th-largest provider of aerospace and that the country’s aeronautical engineering sector is expanding quickly.

It will rank between 12th or 10th in size during the next five years, he continued. In the next two years, Ebrard claimed, the nation will also start producing semiconductors.

The tourist industry is “one of the most important” sectors for Turkish investment in Mexico, according to Ebrard, who also said that Turkish businesses recently he spoke with indicated interest in the industry, Anadolu Agency reports.

Among the possible areas of collaboration between Türkiye and Mexico, according to Ebrard, are free trade zones where manufacturers make goods that are subsequently sent to the US near the northern border of the nation.

Both Mexico and Türkiye are sharing their experiences in this area as they both deal with a weight of migration brought on by either political or economic unrest or civil conflict in adjacent countries, according to Ebrard.

Türkiye has “extremely valuable experience” when it comes to migration, Ebrard stressed.

Türkiye is the country with the largest number of Syrian refugees, hosting over 3.7 million people. In order to allow for the voluntary resettlement of displaced Syrians, it has sought to secure regions around the borders in Syria that are not under the Assad regime’s authority.

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