Russia, Mexico explore more energy ties ahead of joint business forum
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Bilateral discussions have focused on prospects for expanding energy dialogue and Mexico's participation in the forum's business program.
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People watch the lowering of the flag ceremony at the Zocalo in Mexico City, Saturday, Jan. 20, 2024 (AP Photo/Natacha Pisarenko)
Russian and Mexican officials explored ways to deepen energy cooperation ahead of the inaugural Russia-Mexico business forum, according to a statement from Russia’s Roscongress Foundation on Friday.
The discussions focused on prospects for expanding energy dialogue and Mexico's participation in the forum's business program, including the ‘Russia and Mexico: New Horizons for Cooperation in Energy and Geological Exploration’ panel, the statement said.
Alexei Valkov, deputy director of the foundation, noted that both Russian and Mexican energy technologies are progressing rapidly per their respective national energy security goals, emphasizing that the potential for collaboration remains significantly "underutilized."
The talks also highlighted joint cultural and scientific initiatives, particularly involving Latin American alumni of Russian and Soviet universities.
Held in Mexico City on April 3, the first Russia-Mexico business forum gathered more than 300 government officials, business leaders, and experts from both nations.
The event was organized by the Roscongress Foundation in partnership with the Russian Trade Mission in Mexico and Mexico’s National Chamber of the Manufacturing Industry (CANACINTRA), an agreement with which was signed at the St. Petersburg International Economic Forum (SPIEF) in 2024.
Mexico to boost steel, aluminum, and car production
This also comes as Mexican President Claudia Sheinbaum announced that Mexico plans to enhance and increase the production of steel, aluminum, and cars for domestic use in response to US tariffs.
"[We intend] to strengthen and expand manufacturing of cars for the domestic market. We have a plan, we have already spoken to car manufacturers. The goal is that most cars purchased domestically should be produced in the country in dialogue with different countries," the president said, presenting Mexico's economic development plan.
"The relevant decrees will be published on May 16. On May 5, decrees designed to strengthen the domestic market in the field of steel and aluminum will be published," Sheinbaum said.
US President Donald Trump announced 25% tariffs on imports of all foreign cars, starting April 5. On March 12, the United States began to levy a 25% tariff on all supplies of steel and aluminum to the country.
Read more: Trump's tariffs mark a shift toward protectionism: WSJ
