An agreement between Mexico's government and U.S. president-elect Donald Trump, to jointly define a bilateral agenda once he takes office, is a good sign for the relationship, according to a former Mexican diplomat.

"You have to build trust, and based on that trust you can establish dialogue. The best way to build trust is to look each other in the eyes, sit down at a table, express our point of view and listen to their point of view," Sergio Alcocer, Mexico's former deputy minister of foreign affairs, told Xinhua.

On Wednesday, Mexico's President Enrique Pena Nieto announced he had spoken with Trump by phone, and they had agreed to have their respective envoys meet soon to discuss such matters as security, cooperation and well-being.

Trump and Pena Nieto also discussed the possibility of meeting again before Trump takes office on Jan. 20, to discuss bilateral ties.

The two first met when Trump was campaigning for the presidency, after he accepted Mexico's invitation, which was also extended to his Democratic rival Hillary Clinton, who declined.

"The fact that they have agreed that the president-elect's transition team will soon meet with a team from Mexico -- and that there may even be a meeting between the two of them -- seem like very positive signs to me," said Alcocer.

The former diplomat, who was deputy minister for North American affairs, said the two countries have many points on which to agree, and other areas require more dialogue.

Trump's main campaign pledge, to build a wall along the U.S.-Mexico border to stop illegal immigration, along with his criticism of an existing free-trade agreement with Mexico, offended and antagonized Mexicans.

To protect U.S.jobs, Trump has also said he would slap high tariffs on companies who move their operations to Mexico to take advantage of the lower wages workers earn there.

Not surprisingly, the peso plunged on news Trump had won the elections Tuesday night, losing more than 10 percent of its value against the dollar. On Thursday, the peso traded at 20.53 to the dollar, after trading at 18.42 to the dollar just two days earlier.

However, Alcocer said fears Trump will apply "ultra-protectionist" policies that will hurt Mexico are overblown, and the result of campaign posturing, not actual policy.

"The physical wall is not very important. What's important is attitude, and that's why dialogue is important, so there can be more understanding and a change in attitude," said Alcocer.