Canada and Mexico enjoy a mutually beneficial economic partnership but there is ample scope for greater collaboration to improve competitiveness and raise living standards in both countries, a new report says.
The report – Primed for Growth: Optimizing opportunities in the Canada-Mexico economic partnership – urges the two governments to focus on six key recommendations to reach their full potential as North American partners:
- Promote bilateral investment in priority sectors
- Streamline cross-border workforce mobility
- Develop a joint strategy to bolster the competitiveness of our manufacturing sectors
- Prioritize greater engagement between Mexican states and Canadian provinces
- Increase collaboration between the public and private sectors to safeguard integrated infrastructure from cyber attacks and other threats
- Explore the establishment of a bilateral virtual centre of excellence for women and minority-led businesses
Prepared at the request of the Canadian and Mexican governments following the inaugural meeting of the Canada-Mexico High-Level Economic Dialogue (HLED), the report was written by the Business Council of Canada (BCC) and the Consejo Mexicano de Negocios (CMN).
“Canada and Mexico have resources and expertise that each other needs,” says Goldy Hyder, president and CEO of the BCC. “We should be tapping into the sectors where we can both excel to strengthen commercial ties and improve the competitiveness of the entire continent.”
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November 3, 2022