With Canada, our trade has increased from $4 to over $12 billion dollars in nine years. Mexico has become Canada's main trading partner in Latin America and its fourth largest partner worldwide only after the United States, Japan and the United Kingdom. Bilateral trade with Canada has tripled, reaching more than $12 billion US dollars in 2001. Between 1993 and 2001, Mexican exports to Canada grew by 170 per cent, reaching $7.8 billion US dollars in 2001.
Because of the high quality of its production, Mexico is Canada's first supplier of items such as vehicles, electronic equipment and agricultural goods. In the meantime, Mexico has become one of the most important destinations for Canadian products. In fact, Mexico is ranked as Canada's third largest export market behind the United States and Japan. In 2001, Canadian exports to Mexico reached more than $4.2 billion US dollars, which is 260 per cent more than those of 1993. As you can see, bilateral trade has been mutually beneficial.
Since NAFTA, Canada has become the 4th foreign investor in Mexico with $4 billion dollars, only behind the United States, the Netherlands and Spain. At the end of 2002, 1,259 companies with Canadian capital were registered in Mexico. The most important sectors for these investments are within the area of manufacturing, which represents nearly 59 per cent of Canada's total investment in Mexico; financial services account for 25 per cent and mining with 11 per cent.
National Bank of Foreign Trade
Bancomext, founded in 1937, is a government owned development bank. However, it does not receive any funds from the federal government, thus its financial services are under market conditions.
The primary objective of Bancomext is to foster the international competitiveness of Mexican companies and promote non-oil exports as well as attracting foreign investment and encouraging joint ventures with foreign companies and organizations.
Bancomext offers quality services in the fields of business match - making, training, information, counseling, promotion, and financing.
Please visit the Bancomext Web site, or you can get in touch with one of their offices in Canada.