Canada has investment plans of up to $10 billion in Mexico, revealed this Wednesday Enrique Zorrilla, National President of the Canadian Chamber of Commerce (CanCham).

“We have before us projects and investments of enormous scale, of around 7 billion and 10 billion dollars,” he said in the middle of the national day celebration. CanCham Day 2023.

We recommend: Industrial activity grew by 4.9% per year in July; construction, the main driving force

skunk pointed out that currently Canada is the second nation with the most foreign direct investment (FDI) in Mexico with more than 52 billion dollars in total.

He said that the investments Canadians They are found in very varied sectors such as: mining, energy, automotive parts, aerospace, pharmaceuticals, logistics, infrastructure, tourism and education.

Join the El Sol de México channel on WhatsApp so you don’t miss the most important information

The president of CanCham emphasized that the Mexico, United States and Canada Treaty (T-MEC) This is a central element of commercial policy, since it has been emphasized that it provides legal certainty to the investor, the businessman and the consumer in North America.

“He T-MEC modernizes and expands the rules for trade in goods and services in the region,” he added.

Zorrilla also said that beyond the significant challenges for the three countries, the T-MEC represents the economic integration process in North Americawhich, according to him, is now “irreversible”, as he even pointed out, “in fact, it becomes deeper”.

He added that beyond moving companies to Mexico either “relocation“, which, according to him, is limited to the commercial field, binational relations must be expanded until they are strong and reliable.

➡️ Subscribe to our Newsletter and receive the most relevant notes in your email

He said this will also allow us to address other social issues of maximum importance to the Canadian and Mexican populations, such assecurity, the fight against addictions, migration, culture, health and education.

According to official figures, the IDE received by Mexico in the first half of 2023 amounted to $29.041 million, of which 4 percent was invested capital of Canadian origin, with investments of $1.219 million.