Mexico and Saudi Arabia signed 11 agreements of mutual cooperation

In the framework of the state visit made by President Enrique Peña Nieto to Saudi Arabia, 11 agreements were signed with that country in the Middle East, for cooperation on different issues. After the official reception hosted by Salman Bin Abdulaziz, King of Saudi Arabia, the two leaders witnessed the signing of the instruments by officials responsible for different areas.

Air Services Agreement, which establishes a legal framework for air operations between the two States and another for the Avoidance of Double Taxation and Prevention of Fiscal Evasion, which eliminate tax burdens that hinder the flow of investments derived from the signed taxation of the same income. Also, one of cooperation on combating organized crime, to prevent and combat transnational organized crime, and one General Cooperation in economic, commercial, investment, technical, cultural, sports and youth. Also, a Memorandum of Understanding on Cooperation in the Energy Sector, to promote the exchange of information on oil markets; one in education and science between the Ministry of Education and Ministry of Higher Education, and another on Tourism Education.

Memoranda of understanding between Saudi Aramco and state-owned PEMEX were signed; between the National Foreign Trade Bank (Bancomext) and the Saudi Fund for Development. Similarly, among the Saudi Chamber of Commerce and the Mexican Council for Foreign Trade (Comce) and a Program of Cooperation between the Ministry of Economy and the Saudi Organization for Standards, Metrology and Quality (SASO).

Source: MéxicoXport