Mexican Foreign Secretary Jose Antonio Meade and Venezuelan counterpart Elias Jaua agreed here Monday to begin conversations leading to the signing of a trade accord, Mexico's government said.

In a meeting in the Mexican capital, the two ministers agreed "to hold in 2014 the second meeting of the Permanent Binational Commission, as well as to update the legal framework guiding the relationship between the two countries," Mexico's foreign ministry said in a statement.

The updating of the legal framework implies beginning talks leading "to the signing of a trade accord, the creation of an outline of cooperation to promote and protect investments and renew the Air Transport Convention signed in 1987," the communique said.

Jaua affirmed his support for Mexico's presidency pro tempore of the Ibero-American Conference, while Meade reiterated his support for Venezuela's candidacy to be a non-permanent member of the U.N. Security Council during 2015-2016.

Bilateral relations have been in a good period since Enrique Peña Nieto became Mexico's president last December.

Peña Nieto in March attended the funeral of former Venezuelan President Hugo Chavez and recognized Nicolas Maduro as the country's legitimate leader after the April elections.

In addition, in June the Mexican president said he would not receive Venezuelan opposition leader Henrique Capriles because his government acknowledged Maduro's election win and is not going to interfere in "an internal conflict" in Venezuela. EFE