Latincouver Cultural & Business Society & Surrey & White Rock Board of Trade Signed MOU in April 2023
Tania Toledo, Project Assistant + Community Partners
Latincouver Cultural & Business Society | latincouver.ca
68 Water St #406, Vancouver, BC V6B 1A4 | 604-566-0999
officeassistant@latincouver.ca
Trade access
- Canada has free trade agreements with Chile, Costa Rica, Peru, Colombia, Honduras, Mexico, and with Mexico, Peru, and Chile again through CPTPP.
- CUSMA integrates supply chains across Canada, the United States, and Mexico.
Demand trends
- A rising middle class in major cities drives demand for high-quality food, health products, education, fintech, and digital services.
- Governments are investing in energy transition, water, transit, ports, and digital infrastructure.
Sector strengths
- Energy and critical minerals, including lithium, copper, nickel.
- Agrifood, seafood, and food processing.
- Clean technology, water and waste solutions, grid and storage.
- Manufacturing and nearshoring in Mexico, including auto and aerospace.
- ICT, fintech, e-commerce, B2B SaaS, and cybersecurity.
- Health sciences, medtech, and clinical services.
- Transportation, logistics, and port services.
Business climate
- Legal and regulatory frameworks vary by country.
- Chile, Mexico, Colombia, Peru, Costa Rica, Panama, and Uruguay are common Canadian entry points.
- Public procurement and PPPs are active in infrastructure and utilities.
Talent and innovation
- Strong engineering and technical talent.
- Growing venture ecosystems in Mexico City, São Paulo, Bogotá, Santiago, Buenos Aires, and Lima.
- Preferential market access through multiple FTAs lowers tariffs and clarifies rules.
- Supply chain resilience via nearshoring in Mexico and diversified sourcing in the Southern Cone and Andean region.
- Energy transition opportunities in renewables, grid modernization, storage, and critical minerals.
- Scale and proximity with large urban markets and time-zone alignment that supports services and digital trade.
- Complementary between Canadian strengths and regional needs in infrastructure, cleantech, agrifood, education, and health.
- Capital and partnerships supported by Canadian DFIs, ECA tools, and active local investment communities.
Risk and Compliance Considerations
- Currency volatility, inflation, and interest-rate cycles.
- Policy shifts, permitting timelines, and local content rules.
- Security and corruption risks in specific areas.
- Contract enforceability and tax complexity.
Mitigation: in-country counsel, robust compliance programs, reputable local partners, and phased market entry.
Priority Markets to Watch
- Mexico: manufacturing and nearshoring, auto, aerospace, electronics, logistics, fintech, energy services.
- Brazil: scale for agrifood, energy, fintech, health, and digital; complex but high-reward.
- Chile: stable rules, mining and lithium value chain, renewables, water solutions.
- Colombia: infrastructure, logistics, IT services, agritech, clean energy.
- Peru: mining inputs and services, infrastructure, water, and health.
- Argentina: lithium, agrifood tech, and knowledge services; watch macro conditions.
- Central America and Caribbean: tourism infrastructure, clean energy, water, logistics, and niche agrifood.
Entry Playbook for Canadian Firms
- Validate demand at the city level and pick one anchor metro to start.
- Map your FTA benefits and rules of origin early.
- Choose a local distributor or JV with clear compliance and performance terms.
- Localize pricing, payments, and customer service.
- Use Canadian programs for financing, insurance, and trade support.
- Build government and industry relationships; chambers and sector associations are
