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British Columbia and Mexico

Mexico is among the 15 largest economies in the world and the second-largest economy in Latin America. The country possesses one of the most open markets globally and holds 13 free-trade agreements that span 50 countries.

B.C. and Mexico maintain strong economic ties through the CUSMA and CPTPP trade agreements, acting as an underlying foundation for trade. B.C. maintains an economic presence in Mexico through the support of ten Canadian Embassies and Consulates and three Trade Commissioner offices.

Trade & Investment Highlights

B.C. exports to Mexico totaled $179 million in 2022, a 79% increase from 2021. The most important manufacturing sectors in Mexico are automotive, aerospace, medical devices, electronics, appliances, and pharmaceuticals.
CUSMA – The Canada-United-States-Mexico Agreement between Canada, the United States and Mexico is the largest free trade region in the world, further strengthening B.C. and Mexico’s economic ties.
CPTPP – The Comprehensive and Progressive Agreement for Trans-Pacific Partnership between Canada and Mexico allows for free trade opportunities.
As a large and diverse market with a growing urban middles class, a skilled workforce and ample infrastructure, there is growing trade and investment opportunity across many sectors in Mexico.

Mexico at a Glance

Monetary figures are in USD

Opportunity for Foreign Investors and B.C. Exporters

Aerospace

The Mexican aerospace industry focuses on aerospace parts and assemblies integrated into final systems. The sector is divided into original equipment manufacturers producing aircrafts supported by Tier 1 manufacturers; Tier 2 companies making sub-assemblies; and Tier 3 and Tier 4 suppliers providing parts and raw materials. The aerospace industry in Mexico has seen 14% sustained growth over the last 15 years. Opportunities for B.C. companies exist in maintenance, repair and operations services and aircraft supply and provisioning services.

Agrifood & Agritech

Mexico imports a large portion of their agrifood products and is aiming to diversify import sources. Health and convenience are the main drivers for food products in Mexico which must be very competitively priced. Agritech is a high growth sector in B.C. and exporters can provide support to Mexican agriculture companies looking to increase efficiency and sustainability.

Cleantech

The Mexican Government is striving to reduce greenhouse gas emissions through its commitments to the UN Framework Connection on Climate Change Paris Agreement and the 2018 General Law on Climate Change. B.C. is a leader in renewable energy and can support Mexican companies looking to decrease their reliance on thermal electricity sources. There are opportunities for B.C. companies to provide sustainable solutions, specifically but not exclusively in energy efficiency (including within the manufacturing sector), water and wastewater.

ICT

Mexico’s ICT market is highly competitive, with over 4,000 ICT companies. Mexico is following the global trend towards a service-centric IT industry, where most technologies are offered as a service, leading to opportunities in Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platforms as a Service (PaaS). With over 500 fintech start-ups, Mexico is one of the largest fintech markets in Latin America. Most Mexican fintech companies are focused on payments and remittances, personal financial management, crowdfunding, and lending. The pandemic accelerated trends such as e-commerce, online content and services consumption, and mobile payments.

Mining

From 2017 to 2021, Mexico was the source of 8% of total global greenfield investments in the mining sector. Mexican mining companies are looking for specific solutions that make mining more efficient, more innovative, safer, and more sustainable. Through trade and investment, B.C. clean tech companies can support Mexico as it pivots to create more sustainable mining practices. B.C. is internationally recognized as a leader in mining and related fields, such as metallurgy, environmental engineering, mine safety and the geosciences. Vancouver is the global centre of expertise for mineral exploration, with over 1,000 global exploration mining service and supply companies headquartered in the greater Vancouver area.

Mexico Top Industries (2018-2022)

Key Market Landing Pages Infographic - Mexico

Trade & Investment Resources

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How We Help

Assist in commercial location identification and site selection.
Provide information on transportation infrastructure and logistics gateways.
Offer introductions to sector associations, industries and provide cluster insight.
Facilitate understanding and solutions for talent, skilled workforce and labour mobility
Facilitate engagement with professional advisors on legal, compliance and tax matters
Help navigating and offering referrals within government agencies on First Nations, business and regulatory processes.

Identify high potential investment opportunities and offer industry insight.
Introductions to sector associations and local industry contacts.
Introductions to companies seeking investments to expand.
Provide knowledge on local innovation hubs and connections to entrepreneurial opportunities.
Introductions to local venture capital networks.

Assist in navigating government export programs and financial supports.
Advice and coaching in international expansion and exporter development.
Support Team BC missions and trade events.
Match buyers and sellers in local and foreign markets.
Provide insight on trade agreements and barriers.
Introductions to trade representatives in foreign markets.
Market entry assistance in international markets.

Trade & Investment Offices in Mexico

Mexico
- Vancouver

Vancouver

International businesses are discovering the advantages of British Columbia’s open and diversified economy. Located in downtown Vancouver, our team connects incoming investors and businesses to opportunities, provides insights into doing business in British Columbia and exporting from British Columbia to key markets.

Whether you want to invest in British Columbia, locate your business here, or bring your B.C. products and services to the global market, our British Columbia-based sector and market specialists can provide confidential and knowledgeable advice.

British Columbia Office:
Trade and Invest BC
Suite 730, 999 Canada Place
Vancouver, BC V6C 3E1
Canada

+1 604-775-2100

Connect With Our International Network

Our Trade and Investment Representatives can help you establish the right connections, participate in events and tradeshows, explore programs and initiatives, and more. Connect with an expert near you.

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