Canada and Mexico on Aug. 15 formally launched a new bilateral high-level economic dialogue as a means of strengthening trade, investment, inclusive economic growth, and competitiveness by engaging constructively and collaboratively across a range of shared interests.
A joint statement indicates that the dialogue will begin by focusing on a strong economic recovery from the pandemic, including the promotion of inclusive trade strategies in favor of underrepresented groups such as women, youth, and indigenous peoples, as well as innovation and the resiliency of regional supply chains. These efforts will seek to foster job creation, increase competition, and achieve a resilient and inclusive economy.
Co-chaired by Global Affairs Canada, Innovation, Science and Economic Development Canada, and Mexico's Ministry of Economy, the dialogue will encompass the following three pillars but will have the flexibility to include new initiatives and opportunities as appropriate. The dialogue will meet twice annually, with the next meeting to be held later this year.
Strengthening our competitive advantage
- encourage greater participation of skilled workers in key sectors and foster workforce development for areas where there is a need for qualified human resources to ensure regional competitiveness
- collaborate to strengthen regional integration and resilience in priority sectors by working to maintain a healthy business environment and an innovative ecosystem that fosters talent
Supporting equitable growth and bilateral trade
- promote joint initiatives to include women-owned businesses, youth, and other underrepresented groups in the post-Covid economic recovery
- encourage the involvement of indigenous peoples in the economy while advancing best practices to generate sustainable outcomes for their economic participation
- promote investments that contribute to increasing sustainable sectors in the North American region
Strengthening our investment climates
- work to improve the business environments in both countries and foster productive private investment as the engines for economic growth, economic recovery, and job creation in close consultation with the Canadian and Mexican private sectors
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