Over the past two decades, Mexico has made impressive progress in transforming itself from an oil-dependent, protectionist nation into a modern, diversified economic player that is increasingly integrated into the North American economy and the world. The country has opened up to competition in seaports, railroads, electricity generation, natural gas distribution, airports and, to a certain degree, telecommunications. Key challenges for the country include further opening of the energy and telecommunications sectors, enhancing the competitiveness of Mexican enterprise, attracting foreign investment and investing in the country’s human capital and physical infrastructures. Mexico’s reforms are opening up opportunities for Canadian companies across a broad range of sectors. With bilateral free trade agreements (FTAs) with over 40 countries and growing interest in the U.S. and Latin America among Mexican conglomerates, Mexico will be an increasing competitor for foreign direct investment seeking an entry into North America and Latin America.
The Government of Canada has identified Mexico as a Global Commerce Strategy (GCS) priority market—based on extensive consultation with Canadian business and industry representatives, academics and government —and has developed a comprehensive Market Plan that identifies the following key sectors as offering clear market opportunities well suited to Canadian capabilities and interests in Mexico:
Canada-Mexico Commercial Relations, 2005-2009 ($ Millions)
Canada’s most important trade policy instrument with the U.S. and Mexico is the North American Free Trade Agreement (NAFTA), which has revolutionized continental trade and investment and helped unlock our region’s economic potential. The Government of Canada is committed to leveraging the NAFTA to further strengthen our nation’s continental linkages, including by expanding border infrastructure, improving border processes, aligning national standards and regulations, and other measures to improve the speed, ease and costs associated with the cross-border movement of goods and services throughout North America. Canada’s Trade Commissioner Service in Mexico—with trade commissioners located in Guadalajara, Mexico City and Monterrey—provides Canadian businesses with the information, advice and support they need to advance their commercial and investment interests in Mexico. Trade Commissioners also place a special emphasis on promoting Canadian competitiveness and on addressing the awareness gap among Mexican researchers and R&D-driven companies with regard to Canada. The Trade Commissioners also showcase Canada as an investment destination. Domestically, Canadian Trade Commissioners monitor and encourage the retention and expansion of existing Mexican investment in Canada.
Canada and Mexico share a dynamic and prosperous relationship. Through over 65 years of diplomatic relations, as well as common membership in a wide range of hemispheric and international organizations, bilateral cooperation has expanded steadily across a wide range of social, economic, business, environmental and security interests. Today, ongoing work is grounded in a number of important mechanisms, including the:
Unless otherwise stated, all data is for 2009 and expressed in Canadian dollars. All data based on latest available national statistics drawn from a variety of sources, including Statistics Canada, Export Development Canada, Bank of Canada, IMF WEO and UNCTAD
For further information about Mexico, please visit the Foreign Affairs and International Trade Canada website or contact the Trade Commissioner Service at 1-888-306-9991.
* If you require a plug-in or a third-party software to view this file, please visit the alternative formats section of our help page.