Mexico offers to boost trade with crisis-hit Argentina

MEXICO CITY - Mexico's President Andres Manuel Lopez Obrador on Monday offered to help Argentina ride out its economic crisis by increasing trade with the South American country.

The offer came just hours before Lopez Obrador was to meet with Argentina's visiting President-elect Alberto Fernandez to discuss trade and economic matters.

"To the extent that we can, we are going to try to help acquire goods made in Argentina so the Argentine people, along with their new government, can cope with the economic crisis, and there can be growth and wellbeing in Argentina," Lopez Obrador said during his daily press conference.

"We are going to improve our economic and trade ties. There are many things that we can do to strengthen our trade, and to help each other out," he added.

Fernandez, who will take office on Dec 10, will take control of a fragile economy that is forecast to contract by more than 3 percent this year, according to an estimate by the International Monetary Fund (IMF).

Lopez Obrador said cooperation with Argentina, Central America and other Latin American countries is aimed at promoting alternative means of growth.

"To prevent economic crises in the continent, it's also important to learn about our experience in how not to continue applying the same economic policies that have failed again and again," said Lopez Obrador.

Since taking office on Dec 1, the Mexcian president has imposed austerity in public office, including cutting his own salary and that of other high-level officials, and a zero-tolerance policy for corruption.