The governments of Mexico and Canada agree to strengthen trade relations and create sustainable economic growth for both countries.
The renewed strategic partnership will focus on four areas:
1. Strengthening ties between Mexicans and Canadians
2. Facilitating the mobility of our people
3. Promoting shared, inclusive prosperity.
4. Promoting public safety and demonstrating regional and global leadership
Since the passage of the North American Free Trade Agreement (NAFTA), the two countries, together with the United States, have witnessed a substantial increase in trade and investment.
Mexico and Canada are each other’s third largest trading partners, in both directions, and their economies are increasingly integrated in various sectors, including agriculture, automobiles, aerospace, mining, energy, education, tourism and the environment. Greater collaboration in transport through the development of logistics corridors will improve this interconnectivity.
During this state visit, new investments in Mexico of over $2.3 billion Canadian dollars have been announced, confirming Canadian entrepreneurs’ confidence in Mexico.
Highlights include Innergex in Puebla; Martinrea in San Luis Potosí; Starcore International Mines in Querétaro, Sonora and San Luis Potosí; Panamericana Silver Core in Zacatecas and Chihuahua; and the Transcanada project to build a sea-bed pipeline from southern Texas to Tuxpan, Veracruz.
“Mexico and Canada are committed to an open, rule-based global trading system. As members of an integrated North American economy, we will work to increase our shared, inclusive prosperity, further expanding our growing trade and investment relationship, and overcoming trade barriers between the two countries. In this respect, Mexico and Canada share a commitment to resolve trade disputes, making science-based decisions. Mexico is in the final phase of the process to achieve the full normalization of the beef trade with Canada effective October 1 2016; Joint Declaration.