President Enrique Peña Nieto received President of Korea Park Geun-hye, currently on an official visit to Mexico, at the National Palace.

In 2000, total trade stood at four billion dollars; by 2015, it was almost $17.5 billion dollars, while Korea’s annual investment in Mexico has increased by a factor of 24 during the same period.

“We signed key agreements to set up a joint committee to promote trade, investment and cooperation in the industrial and energy sectors and take advantage of new opportunities in the areas of rail transport, port infrastructure and airport services.”

A total of 17 cooperation agreements will be signed on issues such as technology and innovation, electricity and clean energy, police development, the fight against transnational organized crime, higher education, health and social security, tourism, creative industries and intellectual property. 

Scientific and technical assistance will be promoted, together with the exchange of information on water resources.

Two new credit lines will operate: one for a billion dollars for the development of electricity infrastructure; and another for $200 million USD to finance Mexican companies that supply Korean industries. 

During the Mexico-Korea business forum, to be held today, links between local and Korean entrepreneurs will be strengthened.      

It was agreed to hold working meetings from the fourth quarter of 2016 onwards, to expand trade and investment flows, and to explore alternatives, such as Mexico's support for Korea to join the Transpacific Partnership, the TPP, and the start of consultations for a possible bilateral FTA, which would open up a potential market of 50 million people.

Both countries renewed their commitment to peace and international security.

“Mexico and Korea have an invaluable opportunity to create a new future of substantial cooperation and shared growth,” said President Park Geun-hye.

“This series of agreements confirms the friendship and cooperation between Korea and Mexico:” EPN.