Could San Luis Potosí Become a Commercial Ally of Canada?

San Luis Potosí is advancing its economic strengthening process, which is expanding its international presence and redefining its relationship with a key continental partner: Canada. In this context, the State Government held a meeting at the Embassy of Canada in Mexico with diplomat Cameron MacKay, aiming to open a broad agenda on trade, investment, and the utilization of the USMCA. The meeting laid the groundwork for deeper economic cooperation, focusing on foreign trade, productive investment, and business collaboration—elements that underpin the state’s economic growth. Furthermore, the dialogue aimed to identify projects with a direct impact on regional development and the attraction of foreign capital.

What is the Economic Relationship Between San Luis Potosí and Canada?

Regarding Foreign Direct Investment (FDI), San Luis Potosí maintains an attractive environment for international capital. As of last year, the state reports approximately

of international investment projects in progress, expected to materialize by 2026, including Canadian-origin companies interested in establishing or expanding operations. You might be interested in These investments are linked to the planning of trade missions targeting Canadian entrepreneurs, who seek to leverage the state’s industrial and logistics infrastructure. It is noteworthy that as of 2024, Canada ranked as the state’s third-largest investment partner, contributing 136 million dollars. Thus, San Luis Potosí is positioning itself as a strategic location for new production facilities geared towards the North American market.

Bilateral Trade Between San Luis Potosí and Canada

The automotive and manufacturing sectors account for a significant portion of the trade between San Luis Potosí and Canada. The North American country stands as a key partner for the Potosí automotive cluster, with exports of vehicles, engines, and auto parts that comply with USMCA rules of origin. Furthermore, logistics is consolidating as a crucial factor for Canadian companies, thanks to its connectivity with strategic ports such as Tampico, Lázaro Cárdenas, and Manzanillo, in addition to its main highway corridors to the north of the country.

What’s Next for the Relationship Between Both Regions?

Representing Governor Ricardo Gallardo Cardona, the Secretary of Economic Development, Jesús Salvador González Martínez, presented strategic pillars to strengthen the relationship with Canada, including leveraging the USMCA and organizing a Trade Mission. Additionally, both parties advanced discussions for an upcoming visit by the Ambassador to San Luis Potosí, with the aim of promoting bilateral investment projects and reinforcing dialogue with the local business sector, thus consolidating the state as a reliable economic ally.