Canada readies itself for its most significant trade outreach effort in Mexico, amidst historical heights in economic ties reached between both parties. The upcoming trade mission in the month of February signals a shift in Canadian trade policy towards more significant North American ties in response to changes in the broader world trade order. It marks the beginning of a new Canadian trade paradigm that focuses on diversifying trade with increased Canadian economic resilience.
Minister LeBlanc leads unprecedented outreach to businesses
The Canadian-U.S. Trade Minister, Dominic LeBlanc, will lead the Canadian trade mission to Mexico from February 15-20. He recently concluded a successful mission to Mexico City, where he had talks with Economy Minister Marcelo Ebrard. “A series of key sectors such as agriculture, advanced manufacturing, information communications technology, clean energy, and creative industries will be covered in a Canadian trade mission in Mexico,” a press release announcing the mission stated.
The ambassador has confirmed that there are indeed hundreds of interested Canadian companies that have applied to take part in the event, which reflects the level of extraordinary interest on the part of the Canadian business community to explore the possibilities offered by the Mexican market and build a long-term relationship. This event will provide business networking with Minister LeBlanc and his Mexican counterparts.
Logistical challenges arise due to overwhelming business interest
The trade mission is so popular that there might not be sufficient logistical capacity for all the Canadian firms that have applied for participation. This has created an opportunity for Canadian firms that are export-ready with the capacity for market expansion, as hundreds of Canadian firms are vying for participation in the trade mission. This has demonstrated that Canadian firms appreciate Mexico’s importance as an entry point into Latin America.
The current strategic timing of USMCA review preparations is appropriate
This happens only months before Mexico and Canada begin USMCA reviews. Such an event will enable both countries to improve their relationships even before negotiations begin. The bilateral level of trade has increased twelvefold ever since NAFTA’s inception in 1994. The figures stand at over CAD $56 billion in 2024. Canadian direct investments reached $46.3 billion within the last year.
Canada is the fifth-largest trading partner for merchandise trade with Mexico, while Mexico is the third-largest trading partner for Canada among countries, after the United States and China. It stems from the Canada-Mexico Comprehensive Strategic Partnership agreement signed in September 2025, based on the Canada-Mexico Action Plan that aims to make North America the most competitive economic region in the world.
Enhanced cooperation addresses continental competitiveness challenges
However, there has been increased engagement as a result of recognition by both governments that there are many gains that can be realized through enhanced economic integration, especially with unpredictable global trade policies and changing supply chain realities that may have a bearing on North America’s competitiveness in global markets. The USMCA and CPTPP offer many benefits to Canadian corporations that include tariff-free access, covering 99% of products traded between Canada and Mexico.
However, as Mr. Mackay highlighted, in the wake of the current trade tensions, the need for Canada and Mexico to come together has never been greater. The Canada-Mexico enhanced cooperation framework focuses on the ability of the North American continent to compete in the global economy while offering the businesses of Canada and Mexico greater opportunities to increase their market presence, capacity, and networks.
“The Canadian-Mexican partnership is a key part of our trade diversification policy. The negotiations this week highlighted the important opportunities that the dynamic and growing Mexican market offers to Canadian businesses and vice versa.”
Such a trade mission breaking records signifies the most extensive Canadian trade engagement in the Mexican market yet, even as the country prepares to take advantage of economic cooperation in the USMCA era. Such a trade mission signifies how diplomatic engagement translates into vast business opportunities through enhanced continental economic resilience.
