The comments were made at a meeting with Jaime Nualart, Mexican Ambassador to India, Bangladesh, the Maldives and Sri Lanka.
Jaime Nualart is leading a Mexican business delegation to Colombo.
“The bilateral trade between Sri Lanka and Mexico stands at 63 million US dollars," Bathiudeen said.
"This is still a small volume and there is much potential between the two countries to enhance it."
Sri Lanka seeks to "harness synergies of Mexican and Sri Lankan entrepreneurs through mutually beneficial partnerships to exploit promising market opportunities in the US and Canada opened by the North American Free Trade Agreement," he said.
The North American Free Trade Agreement (NAFTA) among the United States, Canada, and Mexico has liberalized restrictions on trade among the three countries by scrapping tariffs and increasing market access.Mexican Ambassador Nualart said Mexican businesses want to invest in food processing, multiplex cinemas and construction, specially shopping complexes, in Sri Lanka.