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December 8, 2022

Mexico-Romania: Economic highlights

The economic relation between Mexico and Romania offers a great potential. Both countries are open market economies with geostrategic locations and thriving deregulatory markets. Romania is EU member state with a strategic role in the Black Sea region and a bridge to Eastern Europe and Central Asia. Mexico, on the other hand, is at the core of a network of 13 Free Trade Agreements with 44 countries, in particular with the North American market and the European Union

In 2014, the value of our bilateral trade reached 500 million dollars; nearly triple that of 2007, when Romania and Mexico started trading in the frame of the Global Agreement between Mexico and the European Union which includes a Free Trade Agreement.

Today, the key economic sectors of the bilateral economic relation are: automotive parts (50% of our trade), energy, agriculture and information technology.

Here are some concrete examples of these productive exchanges:
• Grup Servicii Petroliere (GSP) rent three drill rigs to Pemex in the Gulf of Mexico and they have just concluded negotiations to lease an additional platform, called Bigfoot 1, which has extensive facilities with a capacity of up to 240 operators. This was the result of a meeting promoted by Ambassador Agustín Gutiérrez Canet between the President of the Board of GSP, Gabriel Valentin Comanescu, and the Director General of Pemex, Emilio Lozoya Austin.
• Mexican company Sigma Alimentos has indirect investment in Romania through Campofrío, a major shareholder of Romania’s Caroli Foods.
• Corona beer, world’s best well known Mexican brand, is a preferred beer in Romania.

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