MercoPress. South Atlantic News Agency

Chilean, Mexican presidents tout bilateral accord

Chilean President Ricardo Lagos and his Mexican counterpart, Vicente Fox, signed an agreement Thursday to strengthen their nations' political and economic ties and bolster bilateral cooperation.

The signing ceremony took place at Lagos's Cerro Castillo residence, in the city of Viña del Mar on the Pacific coastline west of Santiago.

"This agreement has significant historical implications; this strategic association pact represents the integration of two countries, of two economies to support the development of the Latin American agenda in the region," said outgoing President Lagos, whose term in office is set to end in March.

Fox, for his part, said Mexico and Chile shared "the same democratic vision, the conviction that justice and economic growth with a human face are essential to ensure the well being of our peoples." The text of the strategic association agreement stipulates the expansion of bilateral cooperation programs in different areas, to be carried by means of a cooperation fund set up for this purpose.

Prior to signing the agreements with Lagos, the Mexican leader met with more than 300 Chilean business leaders, urging increased trade and investment between the two countries.