Canada on Tuesday highlighted the achievements of the free trade agreement with Chile on the 25th anniversary of its entry into force, considering that it has enabled Canadian direct investment in the South American country to multiply. by 5 during this period.

Canadian International Trade Minister Mary Ng said Canadian direct investment now stands at C$23.1 billion (US$17.7 billion), making the North American country the second largest foreign investor in the world. Chile.

In addition, bilateral merchandise trade has quadrupled since 1997.

The official said the anniversary is a time to reflect on what the two countries have achieved through the agreement, the first bilateral free trade agreement Canada has signed with a Latin American country.

Ng’s statement comes days before the Canadian minister will meet Thursday and Friday in Vancouver (Canada) with Mexico’s Secretary of Economy, Tatiana Clouthier Carrillo, and US Trade Representative, Katherine Tai, to “celebrate” the second anniversary. of the free trade agreement between the three countries, known as T-MEC.

Canada said the Vancouver meeting will allow “important trilateral discussions” and “recognize the collaboration and successes” of the North American trade agreement.

But on Monday, Clouthier told Mexican newspaper El Universal that the United States was misrepresenting T-MEC with labor demands against Mexico.

The celebration of the 25th anniversary of the free trade agreement between Canada and Chile also comes at a time of special harmony between the two countries, following the inauguration of Gabriel Boric as President of the South American country.

Boric visited Canadian Prime Minister Justin Trudeau in Ottawa on June 6, and the two leaders stressed their desire to deepen bilateral relations.