Iran, Mexico Planning to Set Up Joint Economic Committee to Expand Trade

The trade officials between the two countries of Iran and Mexico are planning to launch a joint economic committee in order to expand and broaden economic cooperation.

Accordingly, the chairman of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) and Mexican ambassador to Tehran held an expert-level meeting in Tehran in line with expanding and strengthening bilateral trade and economic activities.

To this, the two sides agreed to set up a joint economic and trade committee with the aim of establishing more coordination and interaction in their economic relations.

According to the available statistics, a significant gap exists between the two countries' economic potential and their actual trade volume.

Based on the data released from Mexico's Ministry of Economy, Mexico's exports to Iran dropped to zero in July 2026, while its imports from Iran stood at just US$17,500.

Similarly, Mexico's exports to Iran were recorded at approximately US$147,000 in May 2026, with imports from Iran totaling US$16,600.

According to UN Comtrade data, the value of Mexico's imports from Iran in 2025 was approximately US$1.25 million—a figure considered very modest given the size of the two countries' economies and their trade potential.

In this regard, Mexico is one of Latin America's most significant economies and a major hub for industrial manufacturing in North America. Sectors such as automotive manufacturing, auto parts, machinery and equipment, electrical and electronic industries, and general industrial production constitute a vital part of the country's economic structure.

Generally speaking, the two countries enjoy high potentials and these two countries need to use their potentials to expand ties in the fields of trade and economy. - Mehr