A new era of cooperation: Mexico and Canada join forces to face global challenges

This is an automated translation of the press release issued in Spanish

Mexico City, January 15, 2025. With the aim of strengthening cooperation and trust between both nations in the bilateral and regional spheres, the Mexico-Canada Business Meeting was held today with the President of Mexico, Claudia Sheinbaum.

This meeting marks the beginning of the establishment of a business dialogue between CEOs from Mexico and Canada, who will meet periodically throughout the year to identify common challenges and develop strategies that promote economic growth and development in both countries.

On behalf of the Mexican private sector, led by the President of the Business Coordinating Council , Francisco Cervantes, representatives of the Mexican Business Council, Kimberly-Clark of Mexico, Grupo Carso, Grupo Kaluz, Aeroméxico, Ternium, Grupo Bimbo, Kansas City Southern of Mexico, Alfa, Arca Continental, Vitro, Prodensa, BIVA, Tenaris and Rassini attended.

During the event, which also included the participation of the Secretary of Economy, Marcelo Ebrard, the conversation focused on the strategic sectors that are key pillars in the bilateral relationship: energy, manufacturing, financial services, mining, transportation and agribusiness; as well as on the common challenges of Mexico and Canada, in order to protect supply chains, free trade and guarantee regional competitiveness.

The Canadian delegation, headed by the President of the Business Council of Canada, Goldy Hyder, included representatives from the Canadian National Railway Company , Scotiabank, Linamar, Martinrea International Inc., Palliser Furniture, TC Energy , Teck Resources , WestJet Airlines and Nutrien.

In the context of recent political changes in North America, representatives of both countries agreed that it is essential to prioritize dialogue, avoid trade tensions and work together on constructive solutions that promote international trade and help position the region as one of the most competitive and prosperous in the world.

In this regard, emphasis was placed on the importance of the Treaty between Mexico, the United States and Canada (T-MEC), as the basis for the economic integration of these nations, while providing stability, promoting strategic value chains and driving investments and sustainable growth.

Canada is currently Mexico’s third largest trading partner. In 2024, bilateral trade amounted to $30 billion dollars (USD). Therefore, from the private sector of both countries, we will continue working to execute the commitments made today.

ooOOoo