Photo: Presidencia

By KELIN DILLON

In a significant step towards strengthening economic ties, business leaders from Mexico and Canada convened for a meeting attended by Mexican President Claudia Sheinbaum Pardo (CSP) and Secretary of Economy Marcelo Ebrard on Wednesday, Jan. 15, entering a dialogue to address shared challenges between the trade partners and devise strategies for fostering economic growth. 

The gathering comes just days before Donald Trump begins his second term as President of the United States, underscoring a renewed commitment to avoiding tensions and enhancing cooperation between the two countries. Canada is Mexico’s third-largest trading partner, and bilateral trade reached $30 billion in 2024.

The closed-door meeting, which included a delegation of twelve Canadian businessmen led by the Business Council of Canada alongside their Mexican counterparts, sought to align further and integrate the economic objectives of both nations. 

Francisco Cervantes Díaz, president of the Business Coordinating Council (CCE), emphasized the importance of this collaboration. He stated, “In the context of recent political changes in North America, representatives of both countries agreed that it is essential to prioritize dialogue, avoid trade tensions, and work together on constructive solutions that promote international trade.”

During the discussions, Sheinbaum highlighted the Mexico Plan, an initiative she presented before Trump’s election. 

Goldy Hyder, president of the Business Council of Canada, highlighted Sheinbaum’s focus on generating confidence in Mexico, saying, “She mentioned it, especially the most important points to generate confidence in Mexico,” and also noted the president’s strong emphasis on creating well-paid jobs.

While investment figures were not disclosed, discussions centered on enhancing existing investments and developing a collaborative work plan for future growth. Cervantes Díaz elaborated, “There was no talk of investment amounts; these are companies that already have investments in Mexico; there was talk of how to strengthen them bilaterally.”

The meeting featured a robust participant list, including key figures from both nations. Mexican attendees included noted business leaders such as Claudio X González Laporte of Kimberly Clark Mexico, Daniel Servitje of Grupo Bimbo, and Carlos Slim Domit of Grupo Carso. The Canadian delegation comprised executives from major firms such as the Canadian National Railway Company, Scotiabank, and WestJet Airlines.

President Sheinbaum was accompanied by prominent officials, including Altagracia Gómez Sierra, president of the Advisory Council for Regional Economic Development; Rogelio Ramírez de la O, Secretary of Finance and Public Credit; and Carlos Joaquín González, Mexico’s ambassador to Canada.  

This meeting could be pivotal for Mexico and Canada as they strive to enhance their economic collaboration and improve their competitiveness on the global stage, especially if Trump’s threatened tariffs come to fruition.