A significant Mexican trade delegation to Canada commenced on Thursday, featuring more than 200 Mexican companies aiming to strengthen trade ties during the two-day event held in two cities. The focus of the encounter includes high-level discussions on the Canada-U.S.-Mexico Agreement (CUSMA).
The delegation began in Toronto and will later proceed to Montreal. This trade mission, one of Mexico’s largest to Canada, was initially planned as a three-day tour with a Vancouver stop, but it has been condensed. Canada-U.S. Trade Minister Dominic LeBlanc emphasized the strong bond between Canada and Mexico, highlighting shared values and economic aspirations that have brought prosperity to both nations over the years.
Mexican Secretary of Economy Marcelo Ebrard expressed Mexico’s desire to enhance its relationship with Canada for the long term, citing the changing global landscape and the need to align with like-minded nations. The mission involves over 240 Mexican businesses participating in more than 1,000 prearranged business meetings, as confirmed by Mexico’s Secretariat of Economy. The timing of the trip is strategic as both countries seek to diversify trade partnerships and reduce dependence on the U.S., especially amid trade uncertainties.
Fernando Vargas, CEO of Bloom White Label Partners, a digital services firm from Aguascalientes, emphasized the collaboration potential between Mexico and Canada, pointing out the shared time zone, North American location, and their joint hosting of a future World Cup. Vargas, whose company already conducts a significant portion of its operations in Canada, anticipates expanding further through this trade mission.
During a dinner meeting, LeBlanc and Ebrard discussed mutual economic challenges. Although the pending CUSMA review was on the agenda for their Thursday meeting, it was not classified as a formal negotiation session. Ebrard’s schedule includes meetings with key Canadian industry leaders and facilitating interactions between Mexican businesses and Canadian investment entities, such as the Ontario Teachers’ Pension Plan.
The article also highlights the growing trade relationship between Canada and Mexico, culminating in $62 billion in bilateral merchandise trade in 2025. The trade volume has surged significantly since the implementation of NAFTA in 1995. Luis Arzani, chief commercial officer for Grupo Xpress Internacional, expressed optimism that the trade mission would help streamline logistics operations between Mexico and Canada, bypassing the need for U.S. intermediaries.
Armando Ortega, president of the Mexico-Canada bilateral committee of the Mexican Business Council for Foreign Commerce, emphasized the untapped potential for trade between the two countries and the need for Mexican capital to enter the Canadian market. Drawing from his experience in NAFTA negotiations, Ortega stressed the importance of collaborative approaches in the CUSMA review to ensure a balanced agreement.
Overall, the trade mission signifies a strategic effort to strengthen economic ties between Mexico and Canada, fostering mutual growth and collaboration in the evolving global trade landscape.
