A U.S. delegation, led by Vice President Joe Biden, traveled to Mexico City, Mexico this week for the first meeting of the U.S.-Mexico High Level Economic Dialogue (HLED). Ambassador Froman co-chaired the meeting along with Secretary of Commerce Penny Pritzker and Assistant Secretary of State for Economic and Business Affairs Jose Fernandez. Mexican Secretary of Finance Luis Videgaray, Secretary of Economy Ildefonso Guajardo, and Secretary of Foreign Relations Jose Antonio Meade led the Mexican delegation.
In May 2013, President Obama and Mexican President Peña Nieto officially launched the High Level Economic Dialogue to “advance strategic economic and commercial priorities central to promoting mutual economic growth, job creation, and global competitiveness.” The HLED will develop and implement a strategic, bilateral workplan focused on three pillars: promoting competitiveness and connectivity; fostering economic growth, productivity and innovation; and partnering for regional and global leadership. In the near future, both the United States and Mexico will publish notices inviting public comments and suggestions regarding this workplan.
The White House released more information on today’s meetings and the HLED, which can be found here.
The United States and Mexico share one of the largest and most comprehensive trading relationships in the world. Since the United States, Mexico and Canada enacted the NAFTA 20 years ago, U.S. exports to Mexico have grown 419 percent, from $41.6 billion to $216 billion in 2012. Mexico is the United States’ second-largest export market and third-largest trading partner. For 22 states, Mexico is their first or second destination for exports. And, the United States is Mexico’s largest trading partner.
While in Mexico City, Ambassador Froman also met with Secretary of Economy Ildefonso Guajardo to discuss next steps needed to successfully conclude Trans-Pacific Partnership (TPP) negotiations this year, as well as other key U.S.-Mexico bilateral issues.