Mary Ng. Image credit: Twitter/Mary Ng
Ottawa/CMEDIA: During her call yesterday with Raquel Buenrostro, Mexico’s Secretary of Economy, Mary Ng, Canada’s Minister of International Trade, Export Promotion, Small Business and Economic Development, expressed her concern with Mexico’s proposed mining reforms, a news release said.
Minister Ng added that Mexico’s proposed mining reforms could affect Canadian investment in Mexico’s mining sector, and potentially impact North American competitiveness and supply chain resiliency.
Minister Ng reiterated the Importance of conducting broad and transparent consultations in regards to the proposed reforms with all stakeholders including Canadians companies, which represent the largest group of foreign investors in Mexico’s mining sector.
Emphasizing the important contributions of Canadian mining companies to the Mexican economy, Minister Ng highlighted the need for closer collaboration between Canada and Mexico owing to the growing importance of mining and critical minerals for the clean economy of the future.
Minister Ng urged Mexico to ensure they are committed to Leaders at the North American Leaders Summit and of the Canada-United States-Mexico Agreement (CUSMA).
Mexico is reportedly Canada’s third-largest single-country merchandise trading partner after the United States and China with two-way merchandise trade between Canada and Mexico valued at $49.7 billion in 2022.
Canadian direct investment in Mexico valued at $25 billion in 2021, making it Canada’s ninth-largest direct investment destination, identifies Mexico to be a priority market for Export Development Canada.
With its regional office being operated in Mexico since 2000, extensive financial services are being provided by Mexico related to Canadian exports and investments in the country.
Minister Ng also said she was excited to welcome Secretary Buenrostro to Canada June 12-13, 2023 for a bilateral visit, including a meeting of the Canada-Mexico High-Level Economic Dialogue.
#Canada; #Mexico; #CanadaMexicoCollaboration; #MaryNg; #RaquelBuenrostro
