The countries signed an Strategic Association Agreement to expand the current FTA and create dialogue and cooperation mechanisms.
Mexican president Felipe Calderón "assured in a press conference that this agreement will not only increase bilateral commerce, but also 'enable closer dialogue in topics of mutual interest and deepen the economic relationship and the educational, technical and touristic links'", reported Prensalibre.cr
The agreement is looking to expand the FTA between the two countries, widening the relationship in the political and cooperation fields.
Billateral commerce rose 1400% since the signing in 1994 of the FTA between both countries. Now, the intention is to strengthen the relationshipt with strategic agreements in environment and coordinated action in multilateral bodies such as the United Nations Security Council.
"I wish that it would be someday!" said Mexican president Felipe Calderon, pointing out that Latin America has very distinct economic and monetary policies.
He also highlighted the various exchange rate and monetary systems. "There are countries which have their own currency and the corresponding seigniorage; and there are countries which used other countries' currencies, such as El Salvador or Ecuador, which have their economies in US dollars.
The presidents of the region have back-to-back meetings today in El Salvador and tomorrow in Mexico, to discuss regional integration and the re-starting of the Plan Puebla Panama.
Presidents from Central America, Mexico and Colombia will meet Saturday in the Mexican city of Villahermosa, where the theme will be Plan Puebla Panama. Lurking in the background is another topic that will likely arise: political tension between Colombia and Nicaragua.
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