Foreign trade of Mexico with Azerbaijan grows 100%

According to figures from the Azerbaijani government, 2019 was the year with the highest foreign trade registered between Mexico and Azerbaijan.

Foreign trade reached a record figure of 52.4 million dollars, that is, a 100% increase compared to 2018.

Although with a comparatively low base, bilateral foreign trade grew 638.03% in 2019 compared to 2014, the year in which this Mexican Embassy was opened in Azerbaijan.

Prior to the opening of this Embassy in 2014, the volumes of commercial exchange between both countries were very limited (the annual average 1995-2014 was 2.2 million dollars).

Since 2014, the bilateral relationship, and in particular, the commercial one, was promoted.

Foreign trade

In this sense, 2020 began with positive prospects, registered in the first quarter, and a certain slowdown in the second half.

Among the main Mexican products are pipes for the Azerbaijani oil sector, since between 9 and 13% of the pipes (40 cm) imported by Azerbaijan come from Mexico, according to the Embassy.

The growth of the presence in Azerbaijan of vehicles produced in Mexico stands out.

In addition to tequila and beer exports, which continued to grow, the presence of new products such as lemon, avocado and mango was also observed.

With the aim of promoting investment in Mexico, the Head of the Embassy met with the president of the Alat Free Economic Zone, an important project that seeks to position Azerbaijan as a commercial bridge between Asia and Europe.

There, the possibility of holding a virtual meeting with Mexican counterparts was discussed in order to find points of mutual interest that generate collaboration and the exchange of experiences.

Azerbaijan is the largest sovereign country in the Caucasus region, located between Western Asia and Eastern Europe.

Azerbaijan proclaimed its independence from the Russian Empire in 1918 and became the first democratic secular state with a Muslim majority.