Mexico sent its largest-ever trade mission to Canada this week to deepen economic ties and prepare for the upcoming USMCA review.
The mission arrives at a critical juncture as North American partners prepare to evaluate the Canada-U.S.-Mexico Agreement. Strengthening bilateral relations between Ottawa and Mexico City may provide a more unified front during these renegotiations.
Economy Minister Marcelo Ebrard led the delegation to Toronto and Montreal. The record-breaking mission includes more than 240 companies [1] that have scheduled more than 1,800 business meetings [1].
"We want to work very closely with Canada, not just this year, but the next 10, 20, or 50 years," Ebrard said.
A centerpiece of the mission's focus is the role of established Mexican investment in Canada. Fernando Lerdo de Tejada, deputy CEO of Grupo Bimbo, highlighted the company's extensive footprint in the country. He said Grupo Bimbo has invested more than $1.6 billion in Canada since 2014 [2].
That investment has resulted in 17 bakeries across seven provinces [2]. These facilities employ more than 4,000 people directly [2].
The surge in diplomatic and commercial activity reflects a broader strategy to secure North American supply chains. Political leaders said Canada and Mexico are committed to renewing a key free trade agreement that benefits all North American countries [1].
By focusing on high-volume business engagement, Mexico aims to diversify its trade partnerships and solidify its economic presence within the Canadian market, a move that could stabilize trade flows regardless of the political climate in the U.S.
“"We want to work very closely with Canada, not just this year, but the next 10, 20, or 50 years."”
This mission serves as a strategic hedge for Mexico. By intensifying bilateral ties with Canada independently of the U.S., Mexico is attempting to ensure that the core pillars of the USMCA remain intact during the review process. The emphasis on existing large-scale investments, such as Grupo Bimbo's, demonstrates a shift toward long-term industrial integration rather than simple commodity exchange.
