Emirates Diplomatic Academy (EDA), the UAE’s leading international relations and diplomatic institution, in collaboration with the Embassy of Mexico in the UAE, hosted His Excellency Paulo Carreño King, CEO of ProMéxico, for a discussion on Mexico’s growing stature in the world economy on 26 February (Monday).
ProMéxico is the Mexican federal government trade and investment agency that works to enhance the participation of the country in the global economy through the internationalisation of local companies, promotion of exports, and attraction of foreign direct investment.
As part of the talk, His Excellency Paulo Carreño King addressed a team of future diplomats, staff, and faculty at EDA on topics including trade, energy, and investment incentives.
Outlining why Mexico is one of the best places to do business today as well as the benefits of internationalising the country’s products and services, he said: “Due to Mexico’s macroeconomic and political stability, low inflation, the size and strength of its domestic market, economic growth rate, and its ability to attract advanced manufacturing, it is today considered one of the most competitive countries for productive investment.”
Highlighting the urgent need to brand nations in today’s increasingly competitive economic landscape, he added: “Since the establishment of ProMéxico in 2007, we have succeeded in transforming the global perception of Mexico. It is now regarded a business-friendly, enabling and preferred destination to locate businesses, and serves as a gateway to the Americas and beyond. Through meticulously raising awareness about internationalisation among our public and private sector entities, we have managed to create a growth mindset that has directly resulted in driving socio-economic development.”
Prior to his current role, His Excellency Paulo Carreño King was Deputy Minister for North America at the Mexican Ministry of Foreign Affairs. He also worked at the Office of the Mexican Presidency, where he oversaw the country’s branding strategy and international media relations.
For his part, His Excellency Bernardino León, Director General of EDA, said: “We are pleased to host His Excellency Paulo Carreño King from Mexico. His lecture enabled our students to gain crucial insights on the significance of foreign direct investments for a thriving economy, and how diplomats can help bring about these investments. In government, we sometimes forget the powerful role of commerce in society, so it is important for our students to understand issues affecting international trade and what makes any country an attractive investment destination.”
Diplomatic relations between the UAE and Mexico were formally established in 1975. In 2010, the UAE opened its embassy in Mexico and Mexico reciprocated in 2012, setting up its embassy in Abu Dhabi in 2012. The ties between the two nations were further cemented in January 2016, when Mexican President Enrique Peña Nieto became the first Mexican president to visit the UAE on an official state visit. During this visit, Mexico and the UAE agreed on a number of collaborations, including relating to banking, clean and traditional energy, education, taxation, and tourism.