Canada announced that it plans to execute investment projects for up to $10 billion in Mexico, as announced by the president of the Canadian Chamber of Commerce in Mexico (CanCham), Enrique Zorrilla, in the midst of the celebration of “CanCham Day 2023.”

Canada is the second nation with the most foreign direct investment (FDI) in Mexico, with more than 52,000 million dollars in total, which are distributed in a great diversity of industries such as mining, energy, auto parts, aerospace, pharmaceutical, logistics, infrastructure , tourism and education.

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The president of CanCham highlighted that the trade agreement between Mexico, the United States and Canada (TMEC) is a central element of trade policy, as he stressed that it provides legal certainty to the investor, businessman and consumer in North America.

Zorrilla also stated that beyond the important challenges for the three countries, the USMCA represents the process of economic integration in North America, which he said is now “irreversible,” as he even emphasized “in fact it is deepening.”

He added that beyond the relocation of companies to Mexico or "nearshoring", which he said is limited to the commercial field, binational relations must be expanded until they are strong and reliable.

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He noted that this will also allow us to address other social issues of maximum relevance to the Canadian and Mexican populations, such as security, the fight against addictions, migration, culture, health and education.

According to official figures, the FDI received by Mexico in the first half of 2023 amounted to 29,041 million dollars, of which 4% was invested capital of Canadian origin, with investments of 1,219 million dollars.

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Original note