The combination of Canadian skills, knowledge, and expertise in the mining industry and the abundance of natural resources in Mexico has driven Canadian investment in Mexico. The implementation of NAFTA has also facilitated this growth. Large Canadian mining companies such as Pan America, Alianza Minerals, and Alix Resources have traditionally dominated the market, nonetheless, there are significant mining opportunities available for SME’s. The prospects for SME’s are broad and include everything from exploration, the exportation of mining machines and equipment, water management consulting and assistance in the closing of mines. The investments vary and can be in the form of international trade, company formations or company acquisitions.
Biz Latin Hub Supports Canadian Companies Entering Mexico
The Canadian and Mexican Governments have had close ties and a multi-facet relationship long before the introduction of NAFTA, with both countries seeing economic growth directly attributed to investment between the two countries. The Canadian government is a great contributor to the nation’s scope of international investment. It not only encourages but assists its citizens to invest in Mexico.
Canadian Mining Investment Event
On the 23rd of May 2017, the Canadian Embassy held an event for Canadian investors looking to invest in the Mexican mining sector. Biz Latin Hub – Mexico, was asked to make a presentation regarding ‘Doing Business in Mexico’. The Mexico Country Manager for Biz Latin Hub, Alex Mahoney, presented to the group of Canadian investors. The presentation was brief yet informative and examined a range of factors essential to Canadian investment in Mexico. The most important part of the presentation examined the need for foreign companies to outsource aspects of their business when investing in the Mexican mining industry.
Some essential services that Biz Latin Hub provides companies investing in the Mexican mining industry are:
- Market Entry Services – Research, analysis, and reports on mining products and services
- Legal and Tax Services – Information and assistance regarding trade tariffs, invoicing, customs brokers, invoicing and compliance requirements and tariff restrictions
- Due Diligence Services – Background checks on companies, suppliers, agents, and distributors
This presentation was a follow-up from a previous visit from the Canadian Trade Commission to the Biz Latin Hub’s Colombian office in Bogota. This meeting focused on increasing trade and improving relations between Canada and Latin America.
We have experienced the breadth of skills and services that Biz Latin Hub offers in our stops in Bogota and Mexico City. We feel that Biz Latin Hub can offer our Canadian companies a fast and professional entry to Latin American markets to expand our international marketing plans.
– Roy Jakola, Director, Canadian Mining Supplies
The well-organised event was lead by Nadin Nadji, the Trade Commissioner of the Embassy of Canada, and was the perfect combination of specific and relevant mining information and a platform to connect Canadian investors with potential Mexican business partners. Despite the differences in languages and business cultures, the event created an environment which allowed for the formation of both business and personal relationships.
Biz Latin Hub – Mexico was honored to be involved with the event and we are looking forward to reconnecting with the Canadian investors regarding their future mining investments in Mexico. With 25 of the 32 states having key mining activity, it is no surprise that the Mexican mining industry is expected to grow by 3.3% annually over the coming years. The success of the Mexico economy is directly linked to the mining industry and Mexicans are welcoming foreign investment with open arms.
If you would like professional advice and tailored services for your investment in Mexico, get in contact with Alex Mahoney here.