WASHINGTON (Pakistan Point News / Sputnik - 13th July, 2022) Mexico has committed to invest $1.5 billion on infrastructure on the US-Mexico border over the next three years, US President Joe Biden and Mexican President Andres Manuel Lopez Obrador said in a joint statement.
"Mexico has committed to invest $1.5 billion on border infrastructure between 2022 and 2024," Biden and Lopez Obrador said in the statement on Tuesday.
Biden's bipartisan infrastructure law includes $3.4 billion to fund 26 major construction and modernization projects at US ports of entry on the southern and norther borders, the statement noted.
Moreover, the statement said Mexico will buy up to one million tons of fertilizer from the United States to distribute to subsistence farmers.
Another practical measure by Mexico to combat the unfolding economic crisis will be aimed at improving food security, with the government planning to purchase up to 20,000 tonnes of milk powder from the United States to support Mexican families in rural and urban communities, according to the statement.
The US and Mexican leaders also highlighted the key tasks to maintain economic stability in the Mexican region, which are to strengthen supply chains and expand local production, as well as to reduce costs and accelerate procedures in bilateral trade to combat inflation.
The United States and Mexico will hold a high-level dialogue in September that will focus on strengthening trade and commerce ties between the two countries, the statement added.
The Mexican leader's fourth visit to the US is aimed at discussing the problems of the fuel and energy sector, migration management, trade, and investment. After meetings with the US president and vice president on Wednesday, Lopez Obrador will take part in negotiations between entrepreneurs of the two countries.
