September 2009
Canadian companies continue to invest in Mexico, although trade has contracted
Submitted by mexbiznews on Wed, 09/30/2009 - 8:05am
By Diane Lindquist
mexbiznews.com
While the global economic downturn has prompted some Canadian exporters to pull back on trade with Mexico this year, other Canadian companies are moving ahead with investments in a variety of ventures in the country.
“It’s impacted trade,” Rosalind Wilson, director of the Canadian Chamber of Commerce, said of the crisis. “It hasn’t impacted investment.”
As a result, Canada has climbed from Mexico’s No. 5 foreign investor to its No. 2 investor, behind the United States.
“It’s mainly because of mining,” Wilson said. “It’s our fastest growing sector. There’s been significant investment from Canadian companies, particularly gold and silver.”
A total of 74 percent of foreign investment in mining in Mexico, she noted, is of Canadian origin.
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