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Cooperation, integration and competitiveness highlight the North American Leaders’ Summit

Published by Frank Defalco on February 20, 2014

Prime Minister Stephen Harper met with Enrique Peña Nieto, President of Mexico, and Barack Obama, President of the United States, in Toluca, Mexico for the seventh North American Leaders’ Summit (NALS). Enhancing North American competitiveness in the 21st century was the focus of the meeting.
Prime Minister Harper and President Enrique Peña Nieto, witnessed the signing of two agreements that will facilitate trade and investment between Canada and Mexico.
The first agreement between Export Development Canada (EDC) and Banco Nacional de Comercio Exterior, S.N.C. (Bancomext) that will facilitate trade and investment between Canada and Mexico.
The second agreement is a Master Cooperation Agreement (MCA) between EDC, Bancomext, Scotiabank, Bank of Montreal, HSBC Mexico, Banorte, BBVA Bancomer, Banamex and a private equity fund administered by Mexican government-owned financial institutions. The agreement will establish a collaborative approach to providing financial support, guarantees, private equity and assistance to Mexican and Canadian projects and companies.
Jayson Myers, CME President and CEO, as part of the Canadian delegation stated “we see here the continuation of what NAFTA started 20 years ago, cooperation and the building of partnerships between Canada and Mexico,” and added “the access to increased financing for opportunities in Mexico for SMEs is exactly what is needed for Canadian exporters, EDC is doing the right thing with these new agreements.”
Some of the highlights:
·      Develop a North American Competitiveness work plan focused on investment, innovation and increased private sector engagement;
·      Develop a North American Transportation Plan, beginning with a regional freight plan, and the establishment of a North American Trusted Traveller Program in 2014, which will facilitate the movement of people;
·      Develop our ability to foster innovation, provide our citizens with access to high quality educational opportunities and to technology, and promote a workforce with the skills needed for success in the 21st century global economy;
Prime Minister Harper committed to hosting the next North American Leaders’ Summit.

For more on Canada and Mexico cooperation click here

Found in: Mexico news

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