Nieto said on Thursday that his country had accepted Israel’s offer to help it and the United States develop Central America, as Israel and Mexico seek to deepen business ties.

Speaking at a news conference with Israeli Prime Minister Benjamin Netanyahu, Pena Nieto added that the two nations had agreed to update their free trade agreement, which was signed in 2000.

“We have agreed to establish and begin the … negotiations to look over this agreement so that the commercial relationship between both nations intensifies and grows,” he said.

Netanyahu was joined by a business delegation including representatives from communications firm AudioCodes Ltd, cyber security firm Verint Systems Inc and Mer Group, which specializes in telecommunications and cyber security.