At the invitation of the External Affairs Minister, Dr. S Jaishankar, the Foreign Minister of Mexico, Marcelo Ebrard Casaubón, will pay an official visit to India from 30 March to 1 April 2022.
This will be the first visit of Casaubón to India in his capacity as Foreign Minister. He will also visit Mumbai. The visit of Foreign Minister of Mexico follows Jaishankar's visit to Mexico City in September last year.
In a press release, the MEA said that, "The two Ministers will undertake a comprehensive review of bilateral relations and will also discuss international issues of mutual interest."
Mexico was the first country in Latin America to establish diplomatic relations with India in 1950. Despite the vast geographical distance that separates them, the two countries share certain commonalities. Both are democracies, diverse societies and share similar development priorities.
Mexico is currently India’s largest trading partner in Latin America. In 2018-19, it accounted for almost a quarter of India’s trade with the region. At the same time, India is currently Mexico’s ninth-most important global trading partner.
The last decade has seen a spurt in trade between the two countries, which has grown from around $5 billion in 2015-16 to $9.4 billion in 2018-19.4 Crude oil dominates India’s imports from Mexico. It also imports electrical goods and machinery, electronic equipment and auto parts.
India’s exports to Mexico comprise mainly of vehicles, organic chemicals, aluminium products, iron and steel, and ceramic products. Indian companies have so far invested around $3 billion in Mexico.
Mexico could be a key partner in the Indian energy security as crude oil is a major component of Indian imports from the country.
According to the United States (US) Energy Information Administration, Mexico is one of the largest producers of petroleum and other derivatives in the world – fourth in the Americas after the US, Canada and Brazil. This is a key concern given current geopolitical realities threatening India's oil supply.