Mexico and Saudi Arabia Sign Bilateral Agreements

The Mexican government recognizes that economic and cooperation instruments help build closer bilateral ties that will make it possible to:

• Increase and protect bilateral investments.
• Promote and expand cooperation and investment in the fields of energy, trade, and tourism.
• Develop joint actions in the fields of clean energy and the fight against climate change.
• Promote collaboration in the fields of science, education, culture, and the arts, and create scholarships for students from both countries.
• Further strengthen air connectivity.

The most noteworthy of these cooperation agreements are the Agreement on Reciprocal Promotion and Protection of Investments, a Memorandum of Understanding on Clean Energy and Energy Issues Related to Climate Change and another for the exchange of information and best practices between PEMEX and the Abu Dhabi National Oil Company.

The agreements and memoranda of understanding signed were:

1. Agreement between the Government of the United Mexican States and the Government of the United Arab Emirates for the Promotion and Reciprocal Protection of Investments.
2. Memorandum of Understanding on Tourism Cooperation between the United Mexican States’ Ministry of Tourism and the United Arab Emirates’ National Council of Tourism and Antiquities.
3. Memorandum of Understanding to Improve Cooperation on Clean Energies and Energy Issues Related to Climate Change between the United Mexican States’ Ministry of Energy and the United Arab Emirates’ Ministry of Foreign Affairs.
4. Memorandum of Understanding on Cooperation in the Energy Sector between the United Mexican States’ Ministry of Energy and the United Arab Emirates’ Ministry of Energy.
5. Memorandum of Understanding on Cultural and Artistic Cooperation between the United Mexican States’ Ministry of Culture and the United Arab Emirates’ Ministry of Culture, Youth, and Community Development.
6. Memorandum of Understanding to Promote Cooperation in the Areas of Higher Education and Scientific Research between the United Mexican States’ Ministry of Public Education and the National Council of Science and Technology (CONACyT) and the United Arab Emirates’ Ministry of Higher Education and Scientific Research.
7. Cooperation Agreement for the Establishment of a Joint Scholarship Program between the National Council of Science and Technology (CONACyT) and the Masdar Institute of Science and Technology.
8. Memorandum of Understanding for Cooperation between the United Arab Emirates’ Federation of Chambers of Commerce and Industry and the Mexican Business Council of Foreign Trade, Investment, and Technology.
9. Non-binding Memorandum of Understanding and Cooperation between PEMEX and the Abu Dhabi National Oil Company (ADNOC).
10. Non-binding Memorandum of Understanding and Cooperation Agreement between PEMEX and Mubadala Petroleum LLC.
11. Memorandum of Understanding between the National Bank of Foreign Trade and the Dubai Economic Council.
12. Memorandum of Understanding between the National Bank of Foreign Trade and the Emirates National Bank of Dubai.
13. Cooperation Agreement between the National Bank of Foreign Trade and the Emirates Development Bank.