Mexican President Enrique Pena Nieto (R) and U.S. President Barack Obama converse at the National Palace, in Mexico City, capital of Mexico, on May 2, 2013. Obama visits Mexico to meet with Pena Nieto and analyze matters concerning education, infrastructure, commerce, migration and security, according to the local press. (Xinhua/David de la Paz)

Mexican President Enrique Pena Nieto and his U.S. counterpart Barack Obama agreed Thursday to establish a high-level group to discuss ways to boost bilateral economic and trade ties.

After an afternoon meeting in Mexico City, the two heads of state held a joint press conference at which Pena Nieto explained the workings of the group, saying it will meet for the first time this autumn, with the participation of U.S. Vice President Joe Biden.

The two leaders discussed a range of bilateral issues at their meeting, including economy, trade, immigration, security, borderline management, education and scientific exchange.

Pena Nieto said they also agreed to take joint measures in the area of immigration with an eye towards building a safer Mexico-U. S. border that at the same time ensures the smooth flow of people and goods.

The two presidents also agreed to create a bi-national working commission to support entrepreneurs from both countries to boost the small and medium enterprises.

According to a statement issued by the White House, Obama and Pena Nieto Thursday also signed a cooperation agreement on education, which aims to create a bilateral forum for education, innovation and research, with the purpose to boost a larger access to high school education of both countries, and to increase the educational exchanges among university students.

Obama arrived in Mexico City on board Air Force One on Thursday afternoon for a 24-hour work visit. This is Obama's fourth visit to Mexico, but the first one during Pena Nieto's term, who assumed the post last December 1.

Pena Nieto will host a dinner for Obama where they will continue the talks.