Foreign Secretary Luis Videgaray and Economy Secretary Ildefonso Guajardo met today with Canadian Foreign Minister Chrystia Freeland during the "Mexico and North America: A Global Power," event organized by the Americas Society and Council of the Americas.
Foreign Secretary Videgaray and Minister Freeland agreed that there would be a trilateral renegotiation of the North American Free Trade Agreement (NAFTA).
Dr. Videgaray highlighted the importance of continuing the close dialogue with Prime Minister Justin Trudeau's administration, mainly on updating NAFTA as a win-win scenario for all three parties.
"What we have to do as governments is facilitate and promote the achievement of this reality that, more than an idea, is an ideal," said the Foreign Secretary.
The Secretaries of Economy and Foreign Affairs said that Mexico is ready to begin a constructive trilateral negotiation of the Free Trade Agreement, and they underscored the importance of boosting the shared prosperity of and regional competitiveness with Canada and the United States.
The officials also highlighted the strategic scope of the relationship with Canada on key issues such as the environment, migration and regional development. They also underscored Mexico's commitment to strengthening our channels of cooperation.
In 2016, Mexico's trade with Canada totaled USD 20.06 billion. Canada ranks fourth as a source of foreign direct investment in Mexico. More than 96,000 Mexicans reside in Canada, making it the location of the second largest Mexican community abroad.
