Mexico, Canada to boost trade ties, coordinate on USMCA review with US

Both met during Carney's first visit to Mexico City as Canada's Prime Minister.

“North America is the economic envy of the world, is the most competitive economic region of the world, and part of the reason for that is the cooperation between Canada and Mexico,” Carney said in a press conference following the meeting. “We complement the United States. We make them stronger. We are all stronger together,” he said.

Over three-fourths of Canada's exports and more than four-fifths of Mexico's are to the United States.

Carney said he expects “much greater amounts of trade, much greater amounts of investment” between Mexico and Canada, while Sheinbaum said the two countries had agreed to a plan that what would “bring a new era of further strengthening economic ties” between the two sides.

Both want to raise bilateral trade through the free trade agreement through maritime routes, avoiding passage of goods through the United States, Sheinbaum said.

Carney aims to improve ties with Mexico during his two-day visit. The two leaders promised new rounds of bilateral meetings in the next few months, and greater collaboration on security issues, agriculture, energy, finance, health and environment, according to media reports.

Sheinbaum said the countries are already setting up teams and reviewing the agreement with the hopes of keeping trilateral free trade in place.

“USMCA is a testament to if Mexico, Canada and the United States work together, we can create prosperity, face global challenges successfully and position ourselves as the most dynamic region in the world,” Sheinbaum added.

ALCHEMPro News Desk (DS)