Ottawa sees ‘enormous alternative’ as commerce delegation heads to Mexico, says cupboard minister

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A Canadian commerce mission to Mexico this week may produce new offers by early spring, and marks the nation's "most important" such mission ever to Mexico, in line with Canada-U.S. Commerce Minister Dominic LeBlanc.

LeBlanc is main the mission, which can see over 370 Canadian delegates and greater than 200 companies in Mexico from Sunday to Monday — visiting Mexico Metropolis, Monterrey and Guadalajara.

Canadian commerce with Mexico totalled $56 billion in 2024, a 12-fold improve because the North American Free Commerce Settlement (NAFTA) got here into pressure in 1995. Mexico is Canada’s third-largest buying and selling accomplice after the U.S. and China.

However “there's nonetheless, in our view, an enormous alternative to increase buying and selling alternatives,” LeBlanc instructed CBC Information.

LeBlanc, who will probably be joined by Heritage Minister Marc Miller and Agriculture Minister Heath MacDonald, stated he believes the mission may result in new enterprise ties within the close to future.

“Our plan can be to come back again on the finish of March once more and hopefully ink offers that result in direct alternatives."

<img loading="lazy" alt=" Three people siloutted beneath a solar panel complex" srcset="https://i.cbc.ca/ais/f3578a1b-0d76-4cfe-9cfb-689e77f7ce2c,1771032156690/full/max/0/default.jpg?im=Crop%2Crect%3D%280%2C0%2C1159%2C698%29%3BResize%3D796 796w,https://i.cbc.ca/ais/f3578a1b-0d76-4cfe-9cfb-689e77f7ce2c,1771032156690/full/max/0/default.jpg?im=Crop%2Crect%3D%280%2C0%2C1159%2C698%29%3BResize%3D1083 1083w,https://i.cbc.ca/ais/f3578a1b-0d76-4cfe-9cfb-689e77f7ce2c,1771032156690/full/max/0/default.jpg?im=Crop%2Crect%3D%280%2C0%2C1159%2C698%29%3BResize%3D1280 1280w" sizes="(max-width: 762px) calc(100vw - 32px),730px" src="https://i.cbc.ca/ais/f3578a1b-0d76-4cfe-9cfb-689e77f7ce2c,1771032156690/full/max/0/default.jpg?im=Crop%2Crect%3D%280%2C0%2C1159%2C698%29%3B" style="aspect-ratio:1.660458452722063" data-cy="image-img"/> Staff with the Montreal-based agency Solfium run checks on a photo voltaic panel set up in Querétaro, in Querétaro state, Mexico. (Glen Kugelstadt/CBC) 'Commerce uncertainty' Chad Watson, CEO of Quickmill, which is predicated in Peterborough, Ont., is travelling with the commerce mission. His firm builds industrial machine instruments, has been in enterprise for 50 years and does about $2 million a yr value of enterprise in Mexico.

“We wish to increase and steadiness our international portfolio of shoppers,” stated Watson.

The majority of Quickmill’s $20 million value of yearly gross sales comes from the U.S., says Watson, and the corporate’s exports are coated underneath the Canada-U.S.-Mexico Settlement (CUSMA), which changed NAFTA.

Nonetheless, the turbulent commerce indicators coming from the U.S. — together with musings about abandoning CUSMA — have made Mexico an more and more enticing market to seek out new clients, he stated.

“We're all residing in commerce uncertainty proper now with the CUSMA settlement in negotiations,” he stated.

CUSMA is up for evaluate and all three international locations are set to start renegotiations in earnest this summer time. The Mexican authorities has repeatedly said its dedication to proceed with the trilateral commerce settlement.

<img loading="lazy" alt="A man standing in front of machinery indoors." srcset="https://i.cbc.ca/ais/00531c0c-b55b-4351-9db3-9e06dc1b854d,1771030799266/full/max/0/default.jpg?im=Crop%2Crect%3D%280%2C753%2C3024%2C1953%29%3BResize%3D796 796w,https://i.cbc.ca/ais/00531c0c-b55b-4351-9db3-9e06dc1b854d,1771030799266/full/max/0/default.jpg?im=Crop%2Crect%3D%280%2C753%2C3024%2C1953%29%3BResize%3D1083 1083w,https://i.cbc.ca/ais/00531c0c-b55b-4351-9db3-9e06dc1b854d,1771030799266/full/max/0/default.jpg?im=Crop%2Crect%3D%280%2C753%2C3024%2C1953%29%3BResize%3D1280 1280w" sizes="(max-width: 762px) calc(100vw - 32px),730px" src="https://i.cbc.ca/ais/00531c0c-b55b-4351-9db3-9e06dc1b854d,1771030799266/full/max/0/default.jpg?im=Crop%2Crect%3D%280%2C753%2C3024%2C1953%29%3B" style="aspect-ratio:1.5483870967741935" data-cy="image-img"/> Chad Watson, CEO of Quickmill in Peterborough, Ont., is seeking to Mexico to increase his firm's buyer base. (Marie Morrissey/CBC) Jorge Rave, regional vice-president for Latin America and the Caribbean with Export Improvement Canada, says rising commerce and geopolitical upheavals have modified the mindset of Canadian enterprise gamers.

He says he’s seen rising curiosity from Canadian entrepreneurs, who had been by no means export centered, now different horizons.

There's been an "evolution in thought course of,” he stated. “Succesful firms that had by no means exported had been saying … how do I do it?”

Andrés Friedman, CEO and co-founder of Solfium, stated his earlier expertise in Mexico — in senior positions with Quebec aerospace agency Bombardier — satisfied him the nation was the proper springboard for his cleantech startup.

Friedman, whose agency provides custom-made photo voltaic power options for business, says the youthful demographics of Mexico’s labour pressure, the degrees of schooling and its massive market — a inhabitants of 130 million — made the transfer a straightforward calculation for the Montreal-headquartered agency.

Solfium has grown from three workers in Mexico to 60 since 2021.

“Mexico is our launch market … it’s a bit at this time the centre of gravity of the corporate as a result of all our clients are right here,” stated Friedman.

“The return on funding is huge, however the guess must be huge as effectively.”

<img loading="lazy" alt="A man with glasses talking." srcset="https://i.cbc.ca/ais/ccb2163b-5b75-4788-ac95-16e4a3120167,1771028308755/full/max/0/default.jpg?im=Crop%2Crect%3D%280%2C0%2C2252%2C1544%29%3BResize%3D796 796w,https://i.cbc.ca/ais/ccb2163b-5b75-4788-ac95-16e4a3120167,1771028308755/full/max/0/default.jpg?im=Crop%2Crect%3D%280%2C0%2C2252%2C1544%29%3BResize%3D1083 1083w,https://i.cbc.ca/ais/ccb2163b-5b75-4788-ac95-16e4a3120167,1771028308755/full/max/0/default.jpg?im=Crop%2Crect%3D%280%2C0%2C2252%2C1544%29%3BResize%3D1280 1280w" sizes="(max-width: 762px) calc(100vw - 32px),730px" src="https://i.cbc.ca/ais/ccb2163b-5b75-4788-ac95-16e4a3120167,1771028308755/full/max/0/default.jpg?im=Crop%2Crect%3D%280%2C0%2C2252%2C1544%29%3B" style="aspect-ratio:1.4585492227979275" data-cy="image-img"/> Andrés Friedman, CEO and co-founder of Solfium, stated his earlier expertise in Mexico satisfied him the nation was the proper springboard for startup. (Glen Kugelstadt/CBC) Mexico safety enhancing The Canadian delegation arrives as authorities grapple with final month's kidnapping of 10 staff with the Vancouver-based mining agency Vizsla Silver Corp., within the state of Sinaloa. 5 have since been discovered lifeless, in line with authorities who've linked the case to a faction of the Sinaloa drug cartel.

Ottawa is "very involved" concerning the case, stated LeBlanc, however added there's "no daylight" between the 2 governments on safety issues and the safety of Canadian residents, companies and investments in Mexico.

He stated Canada and Mexico keep open and clear discussions on safety points and that President Claudia Sheinbaum’s authorities "has made very, very appreciable motion ahead within the safety context in Mexico."