Minister Ng welcomed the start of the summit and underscored its significance in deepening trilateral relations between Canada, the United States and Mexico, strengthening supply stores and boosting North American competitiveness. Minister Ng and Secretary Buenrostro discussed the importance of building an economy that works for everyone, particularly Indigenous peoples and women. These days, the Honourable Mary Ng, Minister of International Industry, Export Promotion, Small Business plus Economic Development, met with Raquel Buenrostro, Mexico’s Secretary of Economy, at the United states Leaders’ Summit (NALS) hosted by Mexico. Minister Ng communicated Canada’s concerns with Mexico’s energy reforms and their potential effects on Canadian investments, noting the importance of finding a mutually acceptable resolution. Additionally , Minister Ng expressed issues regarding the treatment of Canadian mining companies in Mexico and the need for transparent processes to get mining sector permits. Minister Ng noted that Canadian companies, including those in the mining sector, are commanders in establishing inclusive and sustainable workplace practices. Minister Ng and Secretary Buenrostro expressed support for rules-based trade and continued cooperation on WTO reform, including through the work of the Ottawa Group. January 9, 2023 : Mexico City, Mexico — Global Affairs Canada Minister Ng stated she looks forward in order to welcoming Secretary Buenrostro to Canada in the near future. Minister Ng and Secretary Buenrostro also discussed biotechnology in the agricultural sector. Secretary Buenrostro provided clarification of Mexico’s policy on imports of genetically modified crops.
Quick facts
- Two-way products trade between Canada plus Mexico was valued with $41. 7 billion in 2021.
- Mexico is Canada’s third-largest single-country merchandise investing partner after the United States plus China.
- Canadian direct investment in Mexico was valued at $25 billion in 2021, making it Canada’s ninth-largest direct investment destination.
- South america has been identified as a priority market for Export Development Canada, which has operated a local office in Mexico considering that 2000, providing extensive financial services related to Canadian exports and investments in the country.
- Canadian companies represent two thirds of all the foreign investment in Mexico’s mining sector. The total stock of Canadian direct purchase in Mexico in 2021 had a value of more than $25 billion.
