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B.C. – Mexico: Trade and Investment Opportunities
July 20 @ 12:00 pm - 1:30 pm
Pandemic-related supply chain disruptions bring about great opportunities for B.C. companies as providers or buyers of the thriving Mexican aerospace industry, which has emerged as one of Mexico’s leading industrial sectors.
With more than 350 companies, Mexican aerospace industry has held a 15 percent average annual growth during the last 10 years, receiving more than USD 6 billion in foreign direct investment. In 2020, Mexico ranked as the 15th biggest economy and the 14th largest foreign direct investment recipient in the world.
In 2019, Mexico was also the 14th largest importer and the 15th largest exporter, with Canada-Mexico bilateral trade close to USD 20 billion. During the last 20 years, Mexico has received more than USD 600 billion in foreign direct investment, destined primarily to the manufacturing sector. Geographical proximity, a dynamic manufacturing industry, macroeconomic stability and the legal framework provided by CUSMA make Mexico a very attractive business partner for B.C. companies.
British Columbia is the gateway to Canada’s competitive economy and Aviation is a critical part of British Columbia’s competitive advantage.
With the third-largest aerospace sector in the country, B.C. is home to more than 160 related firms that employ over 8,000 people. The industry directly generates annual revenues of approximately $2.4 billion and value-added output (GDP) of $1.3 billion.
British Columbia also has one of the largest “MRO-ISS” sectors nationwide: The Maintenance, Repair and Overhaul (MRO) sector along with the rapidly evolving In-Service Support (ISS) sector—an evolution of MRO that encompasses traditional services with high-value activities such as engineering, integrated logistics support and major systems upgrades—generate $768 million in GDP annually.