01:24 GMT14 August 2020
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    The Russian president stated that the Russian-Mexican Intergovernmental Commission should be enhanced in order to bolster bilateral economic relations.

    MOSCOW (Sputnik) — The work of the Russian-Mexican Intergovernmental Commission should be enhanced in order to foster economic relations between the two countries, Russian President Vladimir Putin said at the meeting with his Mexican counterpart Enrique Pena Nieto Tuesday.

    "We should enhance the work of the [Russian-Mexican] Intergovernmental Commission which should provide a new impetus for our economic relations," Putin said.

    Putin recalled that December 2017 will mark 127 years since the establishment of diplomatic relations between Russia and Mexico. The Russian President also indicated that the bilateral trade between the two states amounted to nearly $2 billion, adding that the trade turnover had shown an increase of 38 percent in the first half of 2017.

    The Mexican president, in his turn, noted that despite the geographical distance the two states had managed to develop their relations on the basis of friendship.

    "Our trade relations still do not correspond to our countries' great potential which should be used for investment promotion," Pena Nieto said.

    The trade and economic relations between Russia and Mexico have been characterized by rapid development over the past few years due to Russia's decline in trade with European partners. The two countries have been cooperating in addressing economic problems within the framework of G20 and Asia-Pacific Economic Cooperation forum.

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    Tags:
    meeting, Vladimir Putin, Enrique Pena Nieto, Russia, Mexico
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