U.S. President Barack Obama and Mexico's President Felipe Calderon will collaborate in the US-Mexico Bilateral Framework on Clean Energy and Climate Change, a new association to promote renewable energy and lower carbon output, the White House announced Thursday night.

The agreement was announced the same day Obama visited Mexico's capital city to meet with his counterpart, however talks about the framework began in January.

The association's objective is to promote the development of renewable energy, energy efficiency and green jobs, adaptation, market mechanisms, forestry and land use, green jobs, low carbon energy technology development and capacity building. It also aims to strengthen the reliability of cross border electricity grids.

Additionally, a statement released by the White House noted that Mexico will host a global climate change forum in the next months. Officials from prominent world economies are expected to attend the forum.

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