Mark Carney never tires of repeating that Canada’s relationship with the United States, his country’s main trading partner, has changed and is unlikely to be the same again. The Canadian Prime Minister’s words reflect the distancing resulting from the tariff war started by Donald Trump. Carney has already set to work trying to reduce America’s dependence. I raised a number of hurdles to promote interprovincial trade and announced a list of major infrastructure projects in different parts of Canada. He also stressed that there is a need to strengthen ties with more reliable partners. In this regard he made several trips to Europe and Asia. On Tuesday, the Canadian Council for the Americas released a document that may help increase ties with another region of the world.
This organization’s report explains the opportunities that can jointly arise for Canada and the countries of Latin America and the Caribbean. In reality, there is already a long way to go, but the authors point out that it is necessary to implement a well-coordinated Canadian strategy to maximize them, especially in the context of tensions with Washington. The Canadian Council for the Americas argues that “Latin America and the Caribbean are not a peripheral complement of our trade map, but rather emerging degrowth poles of the global economy,” highlighting factors such as human capital, demographic dynamism and the rapid acceleration of demand.
Mark Carney’s government has strengthened ties with Mexico. The Canadian prime minister made an official trip to the Mexican capital last September. During this visit, Carney and President Claudia Sheinbaum signed several agreements, as well as announcing a common front in the renegotiation of the T-MEC. However, this close relationship is an exception, even though Canada has concluded 15 trade agreements in the region and is negotiating another with Mercosur.
In this way, the document provides numerous recommendations for obtaining greater results from these agreements. Likewise, he points out that some powers, such as China, have been working in the area for a long time, so Canada should take advantage of what has already been built. The report suggests identifying specific areas where Canadian exports can increase, in order to build a beneficial model also for the markets of Latin American and Caribbean countries, as well as creating digital tools that facilitate trade and encourage companies to increase their operations in the region. He also mentions opportunities in infrastructure construction. Another question, where Canada can contribute its full contribution “savoir-faire”it has to do with the development of clean energy and the exploitation of critical minerals (Latin America has 60% of the world’s lithium reserves and 40% of copper).
The report notes: “Countries in the region are well aware of the opportunity and can choose their own partners. Capital is important, but so are transparency, community participation, economic development and national security concerns.” The event is important because Canada’s reputation among Latin Americans has been tarnished by the actions of some companies in the industry. The report also highlights opportunities for the gas industry. Canada is experiencing changes in security issues due to deteriorating relations with its neighbor – on which it largely depended on the issue – and growing global threats. The notable increase in defense spending is proof of this.
The document includes recommendations related to Latin America and the Caribbean due to the actions of various criminal organizations, such as drug cartels and gangs. “Canada’s security begins far from home,” the text emphasizes. Among the suggestions cited are increased port surveillance, greater intelligence gathering on these groups and a more frontal fight against dirty money flows. Similarly, there is a proposal that Canada lead hemispheric cooperation in cybersecurity.
Migration is also present in the document’s recommendations. For example, implementing programs that are more focused on the challenges faced by different areas of Canada in issues such as housing, healthcare and agricultural activities. Likewise, the report puts on the table a new mobility pact with Mexico and the need for Canadians to work more closely with Brazilians on the issue of displaced Haitians.
The roadmap presented Tuesday by the Canadian Council for the Americas will certainly gain greater depth as other important aspects are added. For example in the field of culture and education, as well as in the work – past and future – of Canadian cooperation in the region. However, the report proposes a coordinated vision that Canada needs in these times of changes in its international agenda. Ottawa’s offices and chambers of industry and commerce should look into this carefully.
