• The two leaders agreed to strengthen economic and trade relations.
• Matteo Renzi expressed interest in increasing Italian investments in Mexico, as a sign of confidence in its economic and political stability.
• The meeting took place within the framework of the Mexican president’s participation in the G20 Leaders’ Summit.
As part of his participation in the G20 Leaders’ Summit, President Enrique Peña Nieto met with Italian Prime Minister Matteo Renzi, with whom he discussed various issues on the bilateral agenda and actions to strengthen economic and commercial ties between the two countries.
At the meeting, they followed up on the agreements reached at their last meeting on June 15, in Milan, when they signed a series of economic cooperation instruments concerning the energy sector, space and judicial cooperation.
During their meeting at the Leaders’ Summit, the Mexican President invited the Italian prime minister to visit Mexico next year, in response to which he promised to set a date as soon as possible.
The Italian prime minister said that the structural reforms have increased Italian companies’ interest in investing in Mexico and increasing their presence, since they consider that bilateral relations have an enormous potential for the future.
He expressed particular interest in increasing his country’s investments in the energy sector, especially after the adoption of the Energy Reform.
He told President Enrique Peña Nieto of Italian entrepreneurs’ confidence in Mexico’s economic growth and its political and economic stability.
The Mexican president expressed his thanks for the confidence of Italian investors, present at the meeting, and told them that his government has adopted policies to improve the business climate and continue to ensure Mexico’s macroeconomic stability and sound public finances.
The meeting was also attended by CEO of ENI, Italy's main energy company, Claudio Descalzi, who remarked that as one of the winners of Round 1, it will be exploiting hydrocarbons in shallow water.
The ENI CEO expressed the state-owned company’s interest in expanding investments in Mexico, adding that it is seeking a partnership with Petróleos Mexicanos (PEMEX).
The Italian prime minister announced that the national electricity company, ENEL, is currently holding talks with the Federal Electricity Commission (CFE) to exchange experiences and best practices.
In 2014, bilateral Mexican-Italian trade stood at nearly seven billion dollars, making Italy Mexico’s third largest trading partner in Europe, just behind Germany and Spain. Likewise, Mexico is Italy’s second largest trading partner in Latin America.
Last year, approximately 170,000 Italian tourists visited Mexico and currently more than 500,000 companies in Mexico have Italian capital, including major firms such as Techint Tenaris, Fiat-Chrysler, Ferrero, Pirelli, ENI and ENEL.