MEXICO CITY: The Mexican brewer of Corona beer said Thursday it was suspending production because of the health emergency in the country over the COVID-19 pandemic.
Grupo Modelo — whose brands also include Pacifico and Modelo — said the measure was in line with the Mexican government’s order to suspend all non-essential activities until April 30 to slow the spread of coronavirus.
“We are in the process of lowering production at our plants to the bare minimum,” the company said in a statement, adding it would complete the suspension in the following days.
Mexico’s government has said that only key sectors such as agribusiness will be able to continue to function.
Grupo Modelo said it was ready to operate with 75 percent of its staff working remotely to guarantee the supply of beer, if the government agreed.
Mexico’s other major beer producer Heineken — which makes the Tecate and Dos Equis brands — could also stop activities on Friday, the Reforma newspaper said, although the company did not confirm the report.
On Wednesday, the northern state of Nuevo Leon, where Heineken’s Mexican operations are based, said it would stop the production and distribution of beer, which led to panic buying.
Since the start of the virus crisis, Corona beer has been the punchline of jokes and memes, and an online rumor said sales in the US dropped by around 40 percent after the outbreak.
However, in late February, Constellation Brands, which owns the Corona label, denied the rumor and said sales had stayed strong in the US even as the virus has spread internationally.
Mexico has so far registered over 1,500 confirmed cases of coronavirus and 50 deaths.
Mexican brewer of Corona beer producer halts production over virus
https://arab.news/2mpar
Mexican brewer of Corona beer producer halts production over virus
- Measure in line with the Mexican government’s order to suspend all non-essential activities until April 30
- Corona beer has been the punchline of jokes and memes and online rumor
Free trade negotiations between GCC, India mark new phase of partnership, says sec-gen
RIYADH: The Gulf Cooperation Council’s secretary-general affirmed that the negotiations for a free trade agreement between the GCC and India, and the signing of the joint statement, represents a new phase of strategic partnership.
Jasem Mohamed Al-Budaiwi said that this contributes to enhancing close cooperation and strengthening economic and trade ties, according to the Saudi Press Agency.
This came during the signing ceremony of the joint statement on launching the free trade agreement negotiations between the Al-Budaiwi and India’s Minister of Commerce and Industry, Piyush Goyal, which took place in New Delhi, on Tuesday.
During the signing ceremony, Al-Budaiwi said that the Terms of Reference, signed on Feb. 5, provide a comprehensive and clear framework for these negotiations. The two nations agreed to discuss enhancing cooperation in vital strategic areas, including trade in goods, customs procedures, and services.
Additionally, the framework covers Sanitary and Phytosanitary measures, intellectual property rights, cooperation on Micro, Small, and Medium Enterprises, along with other topics of mutual interest. This reflects the comprehensive nature of the agreement and its ability to keep pace with the future economy.
Al-Budaiwi expressed hope that these negotiations would lead to a comprehensive and ambitious free trade agreement that works to remove customs and non-customs barriers, enhance the flow of quality investments in both directions, and achieve further liberalization in trade and investment cooperation between the GCC and India for mutual benefit.
This would provide a stimulating economic environment and an investment climate that opens broad horizons for the business sector, supports supply chains, and accelerates the pace of economic growth in line with the ambitious developmental visions of the GCC states.
The top official affirmed the full readiness of the General Secretariat to host the first round of negotiations at its headquarters in Riyadh during the second half of this year.
The two sides held a meeting during which they reviewed the existing cooperation relations between the GCC and India and discussed ways to develop and elevate them to broader horizons, serving mutual interests and enhancing opportunities for strategic partnership between the two sides, particularly in the economic, investment, and trade fields.
They praised the role undertaken by the negotiating teams from both sides, appreciating the efforts contributing to reaching a comprehensive agreement that enhances economic integration and supports the smooth flow of trade between the two nations.
