The HLED promotes
mutual economic growth, job creation and regional and global competitiveness by
advancing strategic economic and commercial
priorities of both countries. Its six
priority areas are energy, modern borders, workforce development, regulatory
cooperation, stakeholder (governments, private sector, academia and society)
engagement and regional and global leadership.
The third meeting will be chaired, for Mexico, by Foreign
Secretary Claudia Ruiz Massieu, Finance Secretary Luis Videgaray and Economy
Secretary Ildefonso Guajardo. Vice President Joe Biden will lead the U.S.
delegation. He is accompanied by Secretary of Commerce Penny Pritzker, Energy Secretary
Ernest Moniz and Interior Secretary Sally Jewell.
The two sides will discuss the achievements of 2015 and set
the agenda for 2016. Referring to the economic dialogue, Biden urged both countries
to develop a stronger economic partnership that moves "more people, goods
and information across our border."
In 2013, President Enrique Peña Nieto and President Barack
Obama announced the HLED. Its action plan is based on three pillars: promoting
competitiveness and connectivity; fostering economic growth, productivity,
entrepreneurship and innovation; and partnering for regional and global
The United States is Mexico's largest trading partner and
accounts for 64% of total trade and 80.2% of its exports. Mexico ranks third in
total trade with the United States (12.9%), is ranked second as a destination
for its exports (14%) and third as a supplier of imported goods (12.2%).