Jobs, investment "best barrier" against illegal immigration, says Mexico's Carlos Slim

Mexican telecommunications tycoon Carlos Slim on Friday said boosting jobs and investment in Mexico can curb illegal migration to the United States better than a wall along the U.S.-Mexico border.

"The best barrier are opportunities, job creation, improving national investment and welcoming foreign investment," Slim told reporters at a press conference.

His statements came a day after U.S.-Mexico ties appeared to hit a new low following an ongoing dispute over U.S. President Donald Trump's decision to build a wall along the U.S.-Mexico border, and have Mexico pay for it.

Mexico's President Enrique Pena Nieto canceled an upcoming meeting with Trump, but later spoke to him by phone, and the two agreed to stop their very public feud over the wall.

The two countries, however, are set to continue negotiations, through traditional diplomatic channels, on the wall and the existing North American Free Trade Agreement (NAFTA).

Trump "is a great negotiator" but "he isn't the Terminator, he is the Negotiator," said Slim, urging Mexican officials to engage with the new U.S. president and his team.

Slim gained international fame after Forbes named him as the world's richest man for several years in a row. Enditem