# Mexico-Canada bilateral economic relations

> Developing situation record from CLSTR: https://clstr.news/situations/mexico-canada-bilateral-economic-relations
> Updated: 2026-10-28T17:24:00.000Z. Sources: 3. Developments: 2.

Economic discussions between Mexico and Canada have focused on balancing investment flows and identifying sector-specific growth opportunities. Scotiabank has identified significant potential for Canadian capital to support Mexico’s energy transition, specifically in renewables, energy storage, and electrification, alongside opportunities for Mexican service exports in software and engineering.

In response to these flows, Canadian Ambassador Cameron MacKay has urged the Mexican private sector to increase investment in Canada to address a significant capital disparity. While Canadian investment in Mexico is estimated at approximately $66 billion, Mexican investment in Canada is reported to be between $3 billion and $4 billion. MacKay highlighted Canada’s low effective tax rate and existing border infrastructure as incentives for Mexican investors, while noting that despite positive political directions, market risks and future challenges regarding the USMCA remain.

## Timeline

### 2026-10-28: Canadian Ambassador urges Mexican private sector to invest in Canada

Canadian Ambassador Cameron MacKay is urging Mexican investors to increase capital in Canada to balance a bilateral relationship where Canadian investment in Mexico totals $66 billion.

3 sources. https://clstr.news/cluster/canadian-ambassador-urges-mexican-private-sector-to-invest-in-canada

### 2026-10-16: Scotiabank identifies energy transition and service export opportunities in Mexico

Scotiabank identifies opportunities for Canadian investment in Mexico’s energy transition and highlights potential for bilateral growth in knowledge-based service exports.

2 sources. https://clstr.news/cluster/scotiabank-identifies-energy-transition-and-service-export-opportunities-in-mexico

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Cite as: Mexico-Canada bilateral economic relations. CLSTR, https://clstr.news/situations/mexico-canada-bilateral-economic-relations