Jacques Becker
Honorary Consul
Consulate of Monaco
Suite 6004, 1128 West Georgia Street
Vancouver, BC V6E 0A8
phone: 778 379-0460 | email: consul@monaco-vancouver.ca
Mexico remains one of Canada’s most important trade and investment partners, thanks to its proximity, economic size, and integration through the Canada–United States–Mexico Agreement (CUSMA/USMCA). For Canadian businesses, Mexico offers both challenges and strong opportunities in manufacturing, trade, infrastructure, and green energy.
The Mexican economy is expected to grow modestly in 2025, with forecasts around 0.4% (OECD) to 1.0% (IMF), before recovering further in 2026. Growth is supported by resilient exports, nearshoring trends, and increased demand from the United States, Mexico’s top trading partner. At the same time, inflation is easing and macroeconomic management remains disciplined, though investment growth has been slower due to policy uncertainty and fiscal consolidation.
For Canada, Mexico is a strategic partner in supply chains. Canadian companies in mining, financial services, agribusiness, clean technology, and manufacturing are already active in Mexico. The country’s geographic position, large consumer base (126 million people), and proximity to the U.S. create a competitive environment for Canadian firms seeking to expand their North American footprint.
Location
Mexico is Canada’s partner to the south through the Canada–United States–Mexico Agreement (CUSMA). It shares borders with the United States, Guatemala, and Belize, and has extensive coastlines on both the Pacific Ocean and the Gulf of Mexico. Its location gives Canadian companies access to both North and Latin American markets.
Economy
Mexico is the second-largest economy in Latin America and an essential link in North American supply chains. It has a diverse economic base including advanced manufacturing, energy, mining, agrifood, and a rapidly expanding digital economy. Mexico benefits from a large, young workforce, strong industrial clusters in automotive and aerospace, and deep trade integration with Canada and the United States under CUSMA.
- CUSMA Advantage – tariff-free trade and harmonized standards give Canadian companies a competitive edge.
- Nearshoring Opportunities – companies are relocating supply chains closer to North America, strengthening Mexico’s role as a manufacturing hub.
- Sector Alignment – opportunities in automotive, aerospace, cleantech, mining services, agrifood, and ICT align with Canadian expertise.
- Consumer Market – with a population of over 130 million, rising middle-class demand creates opportunities for Canadian brands.
- Cultural and Business Links – long-standing migration, education, and business connections support partnerships.
