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 leadership.

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%).