Mexico and Australia have great development potential: EPN

President Enrique Peña Nieto welcomed Governor-General of Australia Sir Peter Cosgrove, saying that the relationship between the two nations has a great potential for development in the economic, academic and tourist fields.

"In this new era of friendship and collaboration, Australia and Mexico will work together to address global challenges" President Peña Nieto said in a joint statement issued to media at the National Palace.

The Mexican president also said that Mexico-Australia bilateral trade is worth over US$1.6 billion, but that figure is well below the potential of both nations, therefore the interest in promoting its growth.

He recalled that the two nations are part of the Trans-Pacific Economic Partnership Agreement (TPP), and also of the Group of Twenty (G20) and MIKTA block (also formed by Indonesia, South Korea, Turkey.)

Peña Nieto said that during the meeting with Cosgrove they discussed the reforms in Mexico, which open spaces of opportunity for trade and mutual investment and, in turn, boost job creation and the development of economies.