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Mexico looks to expand into Qatari market

Mexico looks to expand into Qatari market

 

DOHA: Qatar Financial Centre (QFC) has announced the licensing of Dunn Lightweight Architecture LLC; a subsidiary of the Mexican company Dunn Arquitectura Ligera SA de CV, which specialises in fabric and tensile structures under its umbrella. They will take part in the construction of stadiums for the FIFA World Cup Qatar 2022. The agreement came through ProMexico, a trust fund of the Federal government of Mexico that promotes international trade and investment, and the Embassy of Mexico in Qatar.

Yousuf Mohamed Al Jaida, QFC Authority Chief Executive Officer commented on the licensing of Dunn Lightweight Architecture LLC as a QFC firm stating: “We are pleased to welcome Dunn Lightweight Architecture LLC to the QFC and Qatar. It is QFC’s first Mexican firm and therefore a huge milestone for our entity to open new markets. Historically, Mexico and Qatar have always shared close strategic and economic ties and this move will serve to enhance and develop this important relationship.” He continued: “This is yet further proof of our openness and the attractiveness of the QFC platform to those looking to expand and tap into Qatar’s large-scale infrastructure projects.”

The Ambassador of Mexico in Qatar, Francisco Niembro, stated: “We are proud to see Dunn pioneering Mexican companies into the QFC environment, and ready to work in some of the most emblematic projects in Qatar”.

ProMéxico’s Director for the Middle East, Juan Cepeda stated: “The Government of Mexico has been implementing an aggressive and successful strategy to bring Mexican companies to invest in Qatar. Dunn Lightweight Architecture is a clear example of this endeavour. Our aim in the near future is to expand our presence in the country as well as attract Qataris to invest in Mexico. QFC will be a great partner in this journey.”

Javier Rattia, Partner-Director at Dunn Lightweight Architecture LLC commented on the licensing stating: “We are thrilled to expand our global presence to Qatar. QFC has played a key role in this achievement. It was instrumental in its legal framework and flexibility. As a Mexican company we found the perfect ally in QFC due to its friendly business environment. We are confident that we have chosen the best partner as a business platform for the region.”

In 2015, total trade between the two nations amounted to $423m. Mexico’s exports to Qatar include trucks, vehicles and refrigerators. Qatar’s exports to Mexico include natural gas and aluminium alloy.

The QFC continues to fulfill its mandate to support Qatar’s agenda to diversify its economy. Following successful roadshows in the UK, Germany, Singapore, India and Japan, the QFC is currently in the process of planning for events locally and internationally.