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International Trade Minister promotes free trade during visit to MexicoMonday, March 20, 2017 > 10:58:54
March 17, 2017 - Monterrey, Mexico - Global Affairs Canada
Spanning more than 70 years, Canada and Mexico share a vibrant, multi-faceted relationship that is characterized by deep people-to-people ties, rich cultural connections, and growing trade and investment.
The Honourable François-Philippe Champagne, Minister of International Trade, today concluded a successful two-day visit to Mexico during which he highlighted the strong and growing commercial relationship between the two countries and the opportunities that creates for the middle class.
On March 16, 2017, Minister Champagne met in Mexico City with Ildefonso Guajardo Villarreal, Mexico’s Secretary of Economy. Their broad-ranging discussion included bilateral trade and investment, their governments’ mutual interest in strengthening the North American economy and increasing collective competitiveness, as well as other bilateral linkages ranging from education and tourism to labour mobility and investment. While in Mexico City, Minister Champagne met business leaders, delivered remarks to the Canadian and Mexican business community at an event organized by the Canadian Chamber of Commerce and the Mexican Council for Foreign Trade and also attended a round table with Canadian investors in Mexico.
On March 17 in Monterrey, Minister Champagne met with Jaime Rodriguez Calderón, Governor of Nuevo León, with whom he discussed Canada’s interest in strengthening relations in key strategic sectors, such as automotive, education, advanced manufacturing and agri-food, and delivered remarks to the Monterrey branch of the Canadian Chamber of Commerce. He also participated in a round table with woman entrepreneurs.
In his exchanges with government officials and businesspeople, Minister Champagne underscored Canada’s commitment to NAFTA and to the North American partnership that has brought much prosperity in the 23 years since it was implemented. Over this time, NAFTA has brought clear economic benefits, generating millions of good-paying jobs for the middle class and growing the combined GDP of our shared continent.
“The North American economy can out-compete any region in the world. Our partnership has also contributed to improved respect for labour and human rights, environmental protection and gender and minority equality. Canada is committed to ensuring that the North American Free Trade Agreement remains the foundation of our future prosperity.”
- François-Philippe Champagne, Minister of International Trade
Mexico is Canada’s third-largest trading partner.
Merchandise trade between Canada and Mexico reached a value of $40.8 billion in 2016, a record high, up from $37.8 billion in 2015.
At the end of 2015, the stock of Canadian direct investment in Mexico stood at $14.8 billion, an 8.3-percent increase from the year before.
Canada, Mexico and the United States form a $28-trillion regional market with some 482 million consumers that accounts for nearly 28 percent of the world economy.