Economic cooperation between Russia and Mexico gains momentum as first business forum wraps up: results
The Roscongress Foundation’s Roscongress International brand organized the first ever Russia–Mexico Business Forum with the support of the Russian Trade Mission in Mexico and the National Chamber of the Transformation Industry (CANACINTRA). The event brought together about 300 individuals from the business community, government officials, and experts from both countries.
Adviser to the President of the Russian Federation Anton Kobyakov drew attention to the fact that Mexico remained an important Russian partner in Latin America 135 years after diplomatic relations were first established between the two countries and the importance of holding the Forum now.
“Significant potential exists for economic and cultural cooperation between Russia and Mexico and holding this Forum on Mexican soil is an important step in the strategic partnership developing between our countries. I am confident we will see tangible results from this work, and it will set an example of effective cooperation for other countries to follow,’ Kobyakov added.
Ambassador Extraordinary and Plenipotentiary of the Russian Federation to Mexico Nikolay Sofinskiy helped kick the Forum off with words of welcome, expressing his belief the Forum would unlock new opportunities for strengthening cooperation and lay the foundation for regular business interaction between companies in the two countries. According to Sofinskiy, the interest of Mexican business in Russia is steadily growing, and Mexico ranks second among Russia’s trading partners in Latin America. in Latin America is only increasing. Mexican Ambassador to Russia Eduardo Villegas Mejias and Vice President of the National Chamber of the Transformation Industry (CANACINTRA) Carlos Barrera Romero also delivered speeches.
The opening ceremony was followed immediately by a presentation of the Roscongress Foundation’s most important business platforms. Roscongress Foundation Deputy CEO and St. Petersburg International Economic Forum Director Alexey Valkov spoke of the role of Roscongress Foundation events as access points to the Russian business environment and as a foundation for building partnerships, inviting Mexican entrepreneurs to participate in Russia’s major business forums.
“The Roscongress Foundation has been helping Russian companies build mutually beneficial cooperation with their international counterparts and find partners and investors for more than 15 years now. To do so, we have created a vast ecosystem of business events that includes SPIEF, the Eastern Economic Forum (3-6 September), and Russian Energy Week (15-17 October), among others. Last year SPIEF attracted more than 21,800 participants from 139 countries, and over a thousand agreements were signed. We have no doubt that today’s meeting will result in new business projects finding an outlet for development at Roscongress forums,” Valkov said.
The highlight of the event was the plenary session ‘Trade and Economic Cooperation between Russia and Mexico: Yesterday, Today, and Tomorrow’, where participants discussed the current state of trade, support for small and medium-sized enterprises (SMEs), overcoming barriers, and opportunities to expand cooperation.
Russia’s Trade Representative in Mexico Alexander Abramov emphasized that existing agreements and growing business exchanges had already begun to show tangible results, with trade between the countries reaching USD 1.3 billion in 2024.
Experts participating in the ‘Russia and Mexico: New Opportunities for Cooperation in Energy and Geological Exploration’ panel discussion considered possible joint initiatives in oil and gas, renewable energy, and nuclear technologies. Rosatom America Latina Director Ivan Dybov spoke of possible applications of small modular reactors (SMRs) in the region, such as the use of land-based SMRs as a reliable power source for remote areas and industrial facilities as well as solutions for coastal zones and marine infrastructure.
“The market potential for small modular reactors in Latin America is predicted to reach 1 GW by 2040. Such technologies have the potential to become an important part of sustainable energy in Mexico,” Dybov said.
The session ‘Building a Digital Bridge between Russia and Mexico through Innovation and Cooperation’ focused on digitalization, with participants considering opportunities for collaboration in the areas of ICT, cybersecurity, artificial intelligence, fintech, and smart cities.
“We see great potential in the creation of a cross-border data repository, integration with local registries, and the development of common standards for regulating intellectual property. Particular attention is being paid at present to the legal regulation of neural networks and IP in datasets. We believe Russia and Mexico can work together in this area,” Adviser to the President for the Development of the IPChain Association Alexey Sokolov said.
The session dedicated to ‘Culture and Society in the Russian-Mexican Business Dialogue’ showed how much potential exists for cooperation between the two countries in culture, education, and tourism. In his video address, Special Representative of the Russian President on International Cultural Cooperation Mikhail Shvydkoy recalled the 2024 signing of the bilateral programme for cooperation in culture, education, youth policy, and sports for 2024-2026. Discussion participants expressed a belief that the Forum would lead to practical mechanisms for implementing this programme.
Honorary Consul of the Russian Federation to Yucatan, Campeche, and Chiapas and Head of the Knorozov Centre for Maya Studies Adrian Maldonado Repetto presented an initiative aimed at developing cultural tourism in the Maya Region that would establish a tourist route connecting Moscow, Havana, and the Yucatan Peninsula, make the Chichen Itza Airport a key transport hub, and emphasize the importance of cultural and historical tourism alongside beach tourism.
The Forum provided representatives of Russian energy, pharmaceutical, agricultural, and digital technology enterprises with the opportunity to meet with Mexican entrepreneurs on specific areas of cooperation. Participants expressed a willingness to continue the dialogue at the St. Petersburg International Economic Forum on 18–21 June 2025.