The Canada-Mexico Partnership is a unique bilateral mechanism that brings together public and private stakeholders to develop concrete initiatives in a wide range of areas of relevance to Canada and Mexico. It focuses on economic cooperation, although its scope has expanded in recent years to include related fields such as environmental cooperation, human capital and housing.
The Canada-Mexico Joint Action Plan is a bilateral framework that outlines the broad extent of the two countries’ multifaceted relationship by providing structure and scope. The latest action plan for 2010-12 listed four pillars of engagement: Fostering competitive and sustainable economies; protecting our citizens; enhancing people-to-people contacts; and projecting our partnership globally and regionally.
In the 20 years since the signing of the North American Free Trade Agreement, two-way merchandise trade between Canada and Mexico has increased more than sixfold, rising from $4.5 billion in 1993 to nearly $30.9 billion in 2012. Mexico is now Canada’s third-largest partner in two-way trade and fifth-largest export market. Canada is the fourth-largest investor to Mexico, with investment stocks totalling $4.2 billion in 2011.
In August 2007, the governments of Canada and Mexico established the Canada–Mexico Consular Rapid Response Mechanism. The goal of this mechanism is to strengthen communication and coordination between diplomatic and consular officials and Mexican authorities at the federal and state levels. Mexico is the top sun travel destination among Canadians, with approximately 1.8 million Canadians visiting Mexico annually and more than 70,000 Canadians residing there.
