Commerce between Mexico and Canada reached 34 thousand 500 million dollars in 2011

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OMERCIO ENTRE MÉXICO Y CANADÁ ALCANZÓ LOS 34 MIL 500 MDD EN 2011

 

During the inauguration of the 10th Edition of CanCham Day, the Economics Minister  Bruno Ferrari, said that commerce between Mexico and Canada reached the record figure of 34 thousand 500 million dollars in 2011, eight times larger than the one held before NAFTA entered into force. This amount consolidates the country as the world’s third trading partner as well as Latin America’s main one.

During the event, to which he attended representing the Presidence, the economy representative said that during the last 10 years the Canadian enterprises established in México made investments of over 12 thousand million dollars.

Additionally, in 2004 the Mexico-Canada Alliance (AMC for its acronym in Spanish) was established to identify cooperation areas to increase both countries’ economies, receiving little more than 164 million dollars in Canadian investments, this even though of the hard financial conditions prevailing worldwide.

Minister Ferrari emphasized that due to the commercial dynamics of the relationships there has been a noticeable raise in the diversification of the exportable offer of Mexican products in the Canadian market passing from less than one thousand products in 1993 to over 4 thousand in 2011.

These investments are a clear example that the Canadian entrepreneurs not only see Mexico just as a solid and competitive economy, but as a place where their investments are safe and comply with the necessary conditions for its future growth; a proof is that at this moment it is participating in the Trans-Pacific Partnership Agreement (TPP) negotiation process, which is the most relevant and ambitious multilateral commercial negotiation worldwide.

Ferarri emphasized that the Competitiveness Global Index of the World Economic Forum shows that during the last two years, Mexico went up by 13 positions, when it went from the 66th to the 53rd place, being the second country in the world advancing most positions in this range.

Meanwhile, Canada’s Ambassadress in Mexico and Canada’s Commerce Chamber Honorary Chairwoman, Sara Hradecky, stated that the relationship between Mexico and Canada is strong, and events such as that happened today help to strengthen this alliance even more. Canadian companies are committed with Mexico, being Canada the biggest fourth investor in Mexico.

This event was attended by: Cristina Vázquez Cardenia, Canada’s Chamber of Commerce in Mexico and Chairwoman and CEO of AirCanada for Mexico and Central America; Miguel Jáuregui Rojas, member of the “CanCham” Council and Chairman of the Administration Council of “Jáuregui y Navarrete”; Lorenzo Barrera, Chairman of CanCham Monterrey; and Francisco Garza, Chairman of CanCham Saltillo.

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