NEW ORLEANS, THE UNITED STATES, April 21 (Xinhua) -- U.S. President George W. Bush joined his Mexican counterpart Calderon here Monday in praising the North American Free Trade Agreement (NAFTA), the world's largest trading partnership linking Mexico, the United States and Canada.

    "Our trade has tripled, and our economies have grown," Bush told Calderon in a bilateral meeting, kicking off the annual North American leaders' summit, the fourth of its kind since its launch in 2005.

    "This has been a very positive aspect for both our countries," Bush added.

    In his remarks, Calderon stressed the "many benefits" of NAFTA, which went into effect in 1994, saying that it has helped create jobs for both countries.

    Earlier in the day, both leaders attended the reopening ceremony of the Mexican consulate in New Orleans, which was closed in 2002 because of a stringent budget.

    At the event, Bush said that he had chosen New Orleans as the host city for this summit to signal its turnaround from the devastation of the 2005 Hurricane Katrina, which flooded most part of the city and killed nearly 1,400 residents.

    "I chose New Orleans for our meetings with Mexico and Canada because I wanted to send a clear signal to the people of my country that New Orleans is open for business," Bush said.

    Bush first announced the decision to host the gathering in New Orleans in his January State of the Union speech, of which the past versions failed to mention the plight of the residents still occupied by rebuilding efforts and thus drew criticism at the president.

    Bush also commended the U.S.-Mexican partnership, saying that the two countries "are working together to build a future of prosperity and opportunity for people on both sides of the border."

    "I know that thousands of Mexicans have participated in the reconstruction of New Orleans," Calderon said. "I'm very happy today to see New Orleans standing and working."

    The new consulate will "contribute to the purpose of strengthening relations between Mexico and the United States and ensuring that North American advances towards a future of prosperity and security for our peoples," Calderon said.

    Following the meeting with the Mexican leader, Bush is expected to meet one-on-one with Canadian Prime Minister Stephen Harper later in the day.

    The annual summit is held under the framework of the so-called Security and Prosperity Partnership (SPP), a trilateral effort launched in March 2005 to smooth out trade and security arrangements in response to new developments in a post-9/11 era.

    It was Bush's fourth and final North American Leaders' Summit because the president, who took office in 2001, has only about nine months to go before his second and last presidential term ends early next year.