Foreign Secretary Luis Videgaray met with the Minister-President of the German state of Hesse, Volker Bouffier, to discuss ways to increase trade, investment and cooperation.

Foreign Secretary Videgaray stressed that the political dialogue as well as the economic relationship between Mexico and Germany has intensified considerably in recent years and he referred to the second meeting of the Mexico-Germany Binational Commission "Alliance for the Future" that was held from May 18-19 in Mexico City. 

The visit to Mexico by the Minister-President of Hesse is part of the Mexico-Germany Dual Year 2016-2017, which has deepened the bilateral relationship and identified new areas of cooperation. 

Mr. Bouffier is accompanied by a delegation of approximately 60 individuals from economic, scientific and academic circles and the state congress.  The purpose of the trip is to expand exchanges with Mexico's political and economic actors in order to increase trade and investment, and to explore opportunities for educational cooperation.

More than 40 companies based in Hesse operate in Mexico in the electricity, construction, automotive and pharmaceutical sectors, among others.  There are also more than 20 academic and scientific cooperation projects between Mexican universities and the state of Hesse.

Frankfurt is the main city in Hesse and the seat of the Deutsche Bundesbank (the German Central Bank) and the European Central Bank. Trade between Mexico and Hesse is USD 1.256 billion. More than 40 companies based in Hesse operate in Mexico.  Hesse receives almost 25% of the foreign direct investment in Germany.