Over 79 years, Canada and Mexico have cultivated a dynamic, multi-dimensional relationship defined by strong interpersonal connections, robust cultural exchanges, and increasing trade and investment. Acknowledging this significant partnership, the Canadian Government is dedicated to bolstering and broadening ties with Mexico, Both countries have focused on collaboration within North America, working closely with our common neighbor, the United States.
Our undeniable interpersonal bonds persist. Even amid the challenges of the COVID-19 pandemic, Canada maintains its position as Mexico’s second-largest source of visitors, following the United States, with over 1.8 million Canadians journeying to Mexico in 2022.
Envisioned progress in the post-pandemic era is expected to rejuvenate visitor figures, aspiring to eventually exceed the milestone of over 2.3 million Canadian visitors to Mexico in 2019. A substantial contingent of Canadians, especially retirees, has invested in Mexican real estate and extended their stays, contributing to a total investment of $33 billion in 2022, making Mexico Canada’s 10th largest direct investment destination. The prospect of living by one’s own rules, free from Canadian regulations, makes retiring in Mexico an enticing new journey for many.
Canada-Mexico Bilateral Action Plan
The Prime Minister of Canada and the President of Mexico have pledged to revitalize a connection that leverages the diverse capabilities of their citizens, prioritizing their welfare and needs in our collaborative efforts. This dedication acknowledges a joint aspiration to foster more prosperous, sustainable, secure, and fair communities for everyone, while also contributing to the resilience and competitiveness of North America as a whole. The initiation of the Canada-Mexico Action Plan solidifies an enhanced partnership posted in:
–Investments and Trades
Canada and Mexico stand firm in their commitment to fostering inclusive trade and investment for a sustainable economic resurgence that prioritizes the well-being of individuals. Utilizing CUSMA/USMCA as a foundation, they aim to cultivate a more interconnected North American community, advancing mutual international trade goals, including post-pandemic economic revitalization, inclusive business approaches, innovation, and other areas of shared concern.
-Trade relationship
Since the implementation of the North America Free Trade Agreement (NAFTA) in 1994, our trade and investment relationship has witnessed robust expansion, further bolstered by the recent Canada-US-Mexico Free Trade Agreement (CUSMA). Canadian engagement in trade and investment with Mexico demonstrates consistent growth, reaching over $49.7 billion in two-way merchandise trade in 2022. Mexico holds the position as Canada’s third-largest single-country merchandise trading partner, trailing only behind the U.S. and China. Conversely, Canada ranked as Mexico’s fifth-largest merchandise trading partner in 2022. Canadian Direct Investment in Mexico amounted to $33 billion in 2022, marking it as Canada’s 10th most significant direct investment destination. The stability of Mexico, coupled with its burgeoning consumer base and competitive labor market, continues to render it an appealing market for Canadian exports and investments.
Tourism, migration, and human mobility
The increasing exchange of students, workers, tourists, and businesspeople strengthens and deepens economic and social ties between Canada and Mexico. Concurrently, both countries recognize the need to work together to create safe, regular, and orderly migration in response to regional migratory trends.
Both countries will continue regular engagement on mobility issues to promote academic and educational exchanges, two-way flow of tourism, reduce misuse of visa-free travel, and promote regular pathways.
Both countries will continue to support labor mobility while encouraging ethical recruitment practices to facilitate safe, regular, and orderly labor migration.