U.S. President Joe Biden, Prime Minister Justin Trudeau and Mexico’s President Andres Manuel Lopez Obrador meet for the North American Leaders’ Summit at the White House in Washington, in November, 2021.JONATHAN ERNST/Reuters
For many years, Canada and Mexico remained economic strangers despite being partners in North American free trade – both deeply tied to the U.S., but with few direct connections to each other.
But that dynamic has changed ahead of a Three Amigos summit in Mexico this week, which Canadian Prime Minister Justin Trudeau will attend with his counterparts. Canadian companies have in recent years become some of Mexico’s most important foreign investors.
In the first nine months of 2022, the latest period for which statistics are available, Canada was the second-largest source of foreign direct investment in Mexico, ahead of Spain. Canadian companies invested US$3-billion in that period – 9.5 per cent of the total….
