Amidst uncertainty with their respective relationships with the United States, Canada and Mexico announced on Thursday a new partnership designed to strengthen ties between the two countries.
Canadian Prime Minister Mark Carney and Mexican President Claudia Scheinbaum unveiled the new Comprehensive Strategic Partnership, which the former said would make North America “the most competitive, dynamic and resilient economic region in the world.”
“With the Canada-Mexico Action Plan as our roadmap, our countries will drive progress in strategic areas, particularly in shared prosperity, security, inclusion, and sustainability,” Carney added.
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“Canada and Mexico are entering a new era of co-operation. We are elevating our partnerships in trade, investment, energy, and security to create more opportunity for Canadian workers, expanded markets for Canadian businesses and more certainty for Canadian investors.”
The new agreement includes prioritizing the development of long-term infrastructure such as ports, rail and energy corridors, working together to combat organized crime, creating new opportunities for trade and investment and protecting wildlife and freshwater systems.
The federal government said there was nearly C$56 billion in two-way merchandise trade between Canada and Mexico in 2024, while Canada poured in C$46.4 billion in direct investment in Mexico.
Sheinbaum said at a press conference that short-term work visas and expanding ocean trade routes between Canada and Mexico were her top priorities before meeting with Carney. Both countries agreed to keep the work visas in place.
Canada will also invest C$5.5 million to support the integration of migrants and displaced people in Mexico, as well as C$4.4 million to the Royal Canadian Mounted Police and the United Nations’ Office on Drugs and Crime to address the illicit trade of fentanyl and other opioids.
“As Canada diversifies our trade, Mexico should be at the top of the list and businesses on both sides are ready to move,” said Catherine Fortin-LeFaivre, senior vice-president of international policy and global partnerships of the Canadian Chamber of Commerce, which was part of the delegation to Mexico.
“Mexico is already in our top three trading partners, and we should be building on that. The Canadian Chamber will be taking a business delegation to Mexico in early February 2026 to turn this momentum into concrete opportunities.”
Carney also announced a new trade mission to Mexico, led by the Dominic LeBlanc, Minister of Canada-U.S. Trade, Intergovernmental Affairs, Internal Trade and One Canadian Economy.
