"The United States and Mexico are stronger when we stand together," Biden said on Monday.
"It is a long and complicated history between our nations, haven't always been perfect neighbors with one another, but we have seen over and over again the power and the purpose when we cooperate and we're safer when we work together whether it's addressing the challenges of our shared border or getting this pandemic under control," he added.
Biden told reporters that he would be discussing during the meeting his Mexican counterpart's earlier request for US coronavirus vaccines.
Lopez Obrador said it is important for the two administrations to maintain a good relationship through constant dialogue, adding his conviction that bilateral relations will get "even better."
The United States and Mexico must maintain cooperation to further develop the bilateral relationship based on independence and autonomy, Lopez Obrador added.
In a joint statement, both leaders said they directed their top diplomats to engage with governments of neighboring countries, civil society groups, and private companies to promote sustainable economic development, combat corruption, and improve law enforcement cooperation against transnational criminal smuggling networks.
Earlier on Monday, White House Press Secretary Jen Psaki said the United States will consider additional help to its neighboring nations Canada and Mexico after the American public has been vaccinated.