Commercial Bank signs MoU with Mexican national development bank

Doha, Qatar: Commercial Bank, Qatar’s first private bank, has signed a Memorandum of Understanding (MoU) with Bancomext, a Mexican national development bank on Thursday 21 January.

 

The signing comes against the background of high level visits between Qatar and Mexico and the strengthening of diplomatic and bilateral ties between the two nations. Levels of trade between Qatar and Mexico have almost doubled over the past four years and continue to grow, with established agreements in the areas of aviation, technical support, youth cooperation, banking, and trade associations.

 

The MoU provides a framework for future cooperation between the two banks and collaboration for projects in Qatar involving Mexican enterprises, or for projects in Mexico involving Qatari enterprises. With Bancomext being a leading trade finance bank in Mexico, greater cooperation under the MoU will help ease trade flows between the two countries for the benefit of both nations and the customers of each bank.