WorldA major Mexican trade mission to Canada launched Thursday, involving over 200 Mexican businesses seeking to expand commercial links during the two-day, two-city encounter that will include high-level talks on the Canada-US-Mexico Agreement.Both countries 'bonded by common values,' says Dominic LeBlancJorge Barrera · CBC News · Posted: May 07, 2026 4:00 AM EDT | Last Updated: May 7Listen to this articleEstimated 5 minutesThe audio version of this article is generated by AI-based technology. Mispronunciations can occur. We are working with our partners to continually review and improve the results.Mexico's Secretary of Economy Marcelo Ebrard, left, walks with Canada-U.S. Trade Minister Dominic LeBlanc in Toronto on Wednesday, ahead of the launch of a Mexican trade mission to Canada. Ebrard and LeBlanc are also expected to discuss the Canada-U.S.-Mexico Agreement. (Mexico Secretariat of Economy)A major Mexican trade mission to Canada launched Thursday, involving over 200 Mexican businesses, looking to expand commercial links during the two-day, two-city encounter that will include high-level talks on the Canada-U.S.-Mexico Agreement (CUSMA). The mission launched in Toronto and will then move to Montreal. It is one of the largest that Mexico has ever sent to Canada, though it's a truncated version of the trip which was originally announced as a three-day tour with a stop including Vancouver."The Canada-Mexico relationship is bonded by common values, by economic ambitions that have generated very considerable prosperity for both our countries over decades," said Canada-U.S. Trade Minister Dominic LeBlanc, during the kickoff speech."We can make North America the most competive, dynamic and resilient region in the world."Mexican Secretary of Economy Marcelo Ebrard said Mexico wanted to forge closer ties with Canada, not just in the short term, but over the coming decades."We know the world is changing in many ways, geopolitically, technologically, the way the economy works now in the world," said Ebrard."So we need to be near friends, near institutions, near countries which have similar values." Over 240 Mexican businesses are signed up and over 1,000 business-to-business meetings already planned, according to Mexico's Secretariat of Economy. The trip comes as both Canada and Mexico look to diversify their trade — both with each other and others — and rely less on the U.S., amid tariff chaos and general global uncertainty."It's evident that there's so much opportunity for Mexico and Canada to collaborate," said Fernando Vargas, CEO of Bloom White Label Partners, a digital services company based in Aguascalientes."We are time zone-aligned, we are in North America and we're hosting a World Cup together."Ottawa sees 'huge opportunity' as trade delegation heads to Mexico, says cabinet ministerCarney talks CUSMA review with Mexican president as official negotiations loomVargas said his startup currently conducts between 30 to 40 per cent of its business in Canada, and he is hoping the trade mission will lay the foundation for further expansion. "It's in everyone's interest to be present elsewhere, and both countries are very interested in working with each other," he said."I think that should continue; that should increase."Fernando Vargas, CEO of Bloom White Label Partners, says he hopes Mexico's trade mission to Canada will lay the groundwork for more customers. (Chris Corday/CBC)LeBlanc said he met with Ebrard over dinner Wednesday and "compared notes on some of the challenges" the two economies are facing. The two are also expected to discuss the pending CUSMA review Thursday, but the meeting is not designated as an official negotiating session.Ebrard also plans to meet with the CEOs of Air Canada, Bombardier, CN Rail and TC Energy, among others. Mexico's top trade official is also slated to host a meeting between Mexican businesses and Canadian investment funds, including the Ontario Teachers' Pension Plan, one of the largest in the world."This is an unprecedented working visit aimed at expanding our investment and trade flow with Canada," said Ebrard in a statement. Trade keeps rising Mexico's visit follows one of the largest Canadian trade missions ever in February, which touched down in Mexico City, Guadalajara and Monterrey. LeBlanc said that mission resulted in about 20 new deals between businesses from both countries.Canada and Mexico recorded about $62 billion in bilateral merchandise trade in 2025. Canada was the second-largest destination for Mexican goods last year, and those exports grew 17 per cent between 2024 and 2025, according to Mexican government figures. Canadian trade with Mexico has seen an over 12-fold increase since the North American Free Trade Agreement (NAFTA) came into force in 1995.Luis Arzani, chief commercial officer for Grupo Xpress Internacional, says he is looking to integrate logistics operations directly with partners in Canada. (Cinthya Chavez/CBC)Luis Arzani, chief commercial officer for Grupo Xpress Internacional, said he hopes the trade mission will help his logistics company create relationships directly with Canadian businesses and find new ways to integrate trade flow without the need for a U.S. intermediary."We can integrate a corridor between loading something in Mexico and taking it all the way to Canada with one single point of contact," he said.WATCH | What Carney thinks about CUSMA talks:CUSMA negotiations 'not a case' where U.S. dictates terms, Carney saysApril 22|Duration 1:00Prime Minister Mark Carney, when asked Wednesday whether Canada should make more concessions ahead of the review of the Canada-U.S.-Mexico Agreement, said no — adding that he thinks negotiations can arrive at a 'mutually successful' outcome. Radio-Canada reported the U.S. administration is asking Canada for what amounts to an 'entry fee' before starting formal trade talks, according to four sources.Armando Ortega, president of the Mexico-Canada bilateral committee of the Mexican Business Council for Foreign Commerce, said Canada should be a priority target for Mexican capital, given the uncertainty that shrouds the global economic climate. Trade between the two countries as yet to reach its true potential, he said."You need an element that becomes transformational in terms of a relationship," said Ortega. "To me that ... would be for Mexican capital to start tapping the Canadian market."That, in my view, will be a game-changer."Armando Ortega says increasing Mexican capital in Canada would be a 'game-changer.' (Mike Zimmer/CBC)Ortega, who was involved in NAFTA negotiations, said that, at the time, Mexico and Canada found common ground and pushed the U.S. to soften and change positions on specific sections of the final deal. He said the two countries need to take the same approach with CUSMA's review."Which is, in this case, ensuring that you don't have only one of the trading partners putting forward, or even imposing, an agenda."ABOUT THE AUTHORJorge Barrera is a Caracas-born journalist currently based in Mexico City for CBC News. He previously worked with CBC's Investigative Unit and CBC's Indigenous Unit. Follow him on X @JorgeBarrera or email him jorge.barrera@cbc.ca.Follow @jorgebarrera on Twitterwith files from Tania Miranda Perez