The king and queen of Spain are making their first state visit to Latin America with a three-day trip to Mexico.

King Felipe VI said Monday that the ties between Mexico and Spain go far beyond political and commercial connections. Spain is the second largest investor in Mexico behind the United States.

Felipe was in Mexico in December to attend the Iberoamerican Summit in Veracruz, but this is his first state visit since assuming the throne last year.

The king was scheduled to address the Mexican Senate on Tuesday and also meet with business people. On Wednesday, Felipe and Queen Letizia are scheduled to travel to the northern state of Zacatecas.