Canadian Ambassador urges Mexican private sector to invest in Canada

Canadian Ambassador to Mexico, Cameron MacKay, has called on the Mexican private sector to increase investment in Canada to balance the bilateral economic relationship. MacKay noted a significant disparity in capital flow, stating that while Canadian companies and investors have poured approximately $66 billion into Mexico, Mexican investment in Canada stands at only $3 billion to $4 billion.

To attract capital, MacKay highlighted Canada’s favorable conditions, including a marginal effective tax rate of 6.4 percent for new projects, which he described as the lowest in the OECD and half the rate of the United States. He also pointed to existing border infrastructure as a key opportunity for growth.

Regarding the political climate, the Ambassador remarked that Mexico is moving in the right direction under President Claudia Sheinbaum’s administration, though he acknowledged that market risks and uncertainty remain. On the future of the USMCA (T-MEC), MacKay noted that while 80 to 85 percent of trade between the three North American nations remains duty-free, the remaining 15 percent presents future challenges.