Together works better for Mexico and Canada
The Mexican Secretary of Economy Tatiana Clouthier virtually visited Canada this Monday, June 7, the fifth most important commercial partner of Mexico. He spoke with Mary Ng, Minister of Small Business, Export Promotion and International Trade of Canada, with Francois-Philippe Champagne, Minister of Innovation, Science and Industry, as well as with Canadian businessmen about issues related to the North American Free Trade Agreement. North, which is abbreviated CUSMA, TMEC and USMCA.
Ng explained that during the meeting they discussed “shared priorities to ensure an inclusive and sustainable recovery from COVID-19 and work together to promote the economic empowerment of women in our two countries.”
Luz María de la Mora, Sub secretary of Foreign Trade of Mexico, recalled the importance of the relationship between both nations. “Trade between Mexico and Canada has grown strongly since the launce of NAFTA. Total trade went from 2 thousand 738 million dollars in 1993, to 19 thousand 493 million in 2020 ”, he said.
“During the past year, Mexican exports to Canada were located at 11.162 million dollars, while imports from Canada were 8 thousand 331 million dollars,” explained Clouthier.
Photo courtesy of the Mexican Ministry of Economy
Relations between North American partners
A few days ago, during their participation in the third Labor Forum “Labor Compliance and Social Security 2021” organized by Index, the Mexican Ambassador to Canada, José Gómez Camacho, He said that integration is unbalanced when it can be solid and strong before the commercial exchange generated by Mexico, the United States and Canada of 1.3 trillion dollars, but with Canadians, the amount is 40 trillion dollars, which is “very less in the complete cake of the region”.
Gómez Camacho said that it is important to inform much more about the new nature, content and more technical rules of the North American trade agreement and to explain a lot about the economic process of the country, politics, the vision of the government of the Republic, about the objectives of President Andrés Manuel López Obrador and that must be done on a daily basis, but Canada’s interest in investing is enormous.
Photo courtesy of the Ministry of Economy of Mexico
He added that regardless of the complexities and challenges that Mexico “has, it is a nation of 130 million inhabitants, with a young population and a huge economy, for any businessman, industry or investment fund, so Mexico is extremely attractive”.
It is clear that both nations consider that there are opportunities on the table. In fact, one year after the signing of the new free trade agreement between the three countries, Clouthier assured that this virtual visit is just one of several working meetings that will be held bilaterally and eventually with their common partner, United States.
In the pic at the top, Mary Ng, Minister of Small Business, Export Promotion and International Trade of Canada and Tatiana Clouthier, Secretary of the Economy of Mexico (photo courtesy of the Ministry of Small Biz, Export Promotion & Trade)