▁at ▁strength ening ▁t ies ▁between ▁the ▁two ▁countries ' ▁national ▁oil ▁companies , ▁Pet ro bras ▁and ▁P em ex . ▁ ▁Mexican ▁president ▁F eli pe ▁Cal der ón ▁stated ▁that ▁Mexico ▁wanted ▁to ▁divers ify ▁its ▁trade ▁away ▁from ▁over - re liance ▁on ▁the ▁United ▁States ▁and ▁hoped ▁to ▁finish ▁a ▁free ▁trade ▁agreement ▁between ▁the ▁two ▁countries ▁that ▁has ▁been ▁in ▁neg ot iation ▁since ▁ 2 0 0 0 . ▁Short ly ▁after ▁his ▁election ▁in ▁ 2 0 1 2 ▁Mexican ▁president ▁En rique ▁Pe ña ▁N iet o ▁critic ized ▁cut s ▁to ▁Brazil ▁quot as ▁of ▁imported ▁Mexican - built ▁autom ob iles , ▁and ▁rest ated ▁Mexico ' s ▁interest ▁in ▁a ▁free ▁trade ▁agreement . ▁ ▁In ▁ 2 0 1 8 , ▁two - way ▁trade ▁between ▁both ▁nations ▁amount ed ▁to ▁US $ 1 0 . 1 ▁billion . ▁Brazil ' s ▁main ▁exports ▁to ▁Mexico ▁include : ▁goods ▁for ▁the ▁iron ▁and ▁steel ▁industry ; ▁vehicles ▁and ▁parts ; ▁fro zen ▁ro oster ▁and ▁ch icken ▁off al ▁and ▁sul f ate ▁pul p . ▁Mexico ' s ▁main ▁exports ▁to ▁Brazil ▁include : ▁vehicles ▁with ▁reci proc ating ▁p ist on ▁engine ; ▁vehicle ▁parts ▁and ▁t ere ph th al ic ▁acid ▁and ▁its ▁sal ts . ▁Between ▁ 1 9 9 9 - 2 0 1 7 , ▁Brazil ian ▁companies ▁inv ested ▁US $ 5 ▁billion ▁in ▁Mexico . ▁Brazil ▁is ▁the ▁largest ▁foreign ▁direct