Mexico begins trade mission to Canada; bilateral relationship "underdeveloped," says Business Council of Canada

A significant delegation of approximately 400 Mexican business leaders, representing 10 priority sectors, is embarking on a crucial trade mission to Canada this week. The mission, running from May 7th to 9th, includes a meeting with Canadian Prime Minister Dominic LeBlanc and is spearheaded by Mexico's Secretary of Economy, Marcelo Ebrard. This initiative underscores Mexico's proactive approach to bolstering its economic partnership with Canada, particularly as the three-nation USMCA (United States-Mexico-Canada Agreement) faces its review.

Shauna Hemingway, Senior Special Advisor for Mexico and the Americas at the Business Council of Canada, described the bilateral relationship as "underdeveloped," highlighting a shared desire for increased collaboration. She noted the recent high-level visits and engagement from Canadian officials as indicators of this growing interest. Hemingway emphasized the need for both nations to "develop and verbalize our narrative" to position North America as the most competitive region globally, stressing that stability and predictability are paramount for investment.

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hay una relación bilateral subdesarrollada, estamos viendo incentivos para colaborar más, hubo visitas del primer ministro de Canadá en septiembre pasado, hay personas de la embajada de Canadá, porque han tenido visita tras visitas

From Mexico's perspective, as articulated by José Medina Mora, president of the Business Coordinating Council (CCE), this mission represents a vital opportunity to deepen economic ties. The CCE is keen to explore investment opportunities, engage with Canadian government agencies, and foster stronger connections between Mexican and Canadian companies, particularly in key sectors like automotive and mining. The underlying sentiment is that while the USMCA provides a framework, the full potential of the Mexico-Canada economic relationship remains largely untapped, and this mission is a concerted effort to unlock it.

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No hemos apreciado lo suficiente sobre lo que podemos hacer bilateralmente. Canadá y México tenemos que desarrollar y verbalizar nuestra narrativa… de que queremos que América del Norte sea la región más competitiva y que haya estabilidad.