Mexico’s one of Canada’s Top 10 export destinations. With its growing consumer class, younger, better educated labour force and proximity to the United States, Mexico offers many opportunities for Canadian businesses. Canadian investors and exporters can gain immediate access to more than 45 markets globally, given the various trade agreements Mexico has signed. Since the beginning of the North American Free Trade Agreement (NAFTA) in 1994, bilateral trade between Canada and Mexico has increased more than ninefold. On July 1, 2020, the Canada-United States-Mexico Agreement (CUSMA), or “new NAFTA,” entered into force. The updated agreement is expected to further strengthen the strong trade ties between Canada and Mexico and increase support for Canadian companies looking to diversify their international sales. For more than 75 years, the Canada-Mexico relationship has been characterized by the development of strong cultural connections, growing trade, and investment across a variety of sectors. Mexico is a priority market for Export Development Canada (EDC) given the abundant prospects for the Canadian companies we serve.
Since 2000, through its local representation offices in Monterrey and Mexico City, EDC has supported more than 10,000 Canadian companies and facilitated $40 billion in business in the Mexican market.