May 16, 2024 – Montréal, Quebec – Global Affairs Canada
The Canada-United States-Mexico Agreement (CUSMA) is a model free-trade agreement for the world, supporting economic growth, prosperity and competitiveness for all 3 countries.
This week, in Montréal, Canada hosted the third annual CUSMA Small and Medium-Sized Enterprises (SMEs) Dialogue, bringing together over 175 representatives of SMEs, industry leaders and government officials from across North America. Maninder Sidhu, Parliamentary Secretary to the Minister of Export Promotion, International Trade and Economic Development, and Rob Stewart, Deputy Minister of International Trade, engaged with participants to help advance trade opportunities for SMEs. They highlighted the importance of CUSMA for growth and prosperity and reflected on the 3 countries’ shared priorities, including increasing the engagement of SMEs led by groups traditionally underrepresented in international trade.
The Parliamentary Secretary also visited the Canadian Pavilion at the Salon International de l’Alimentation au Canada [international food show in Canada], featuring over 100 Canadian companies, and interacted with international buyers seeking to purchase from Canadian SMEs. In addition, he sat down with representatives of the non-profit industry group AluQuébec to discuss the priorities of the Canadian aluminum industry, whose exports are vital to North American supply chains and crucial to supporting the transition to a green economy.
Quotes
“Canada, the United States and Mexico share the goal of making the North American market even more integrated, efficient and competitive. SMEs are the backbone of our shared supply chains and economies. Through CUSMA, our 3 countries are working together to help our SMEs thrive and succeed in exporting.”
– Maninder Sidhu, Parliamentary Secretary to the Minister of Export Promotion, International Trade and Economic Development
Quick facts
- CUSMA took effect in 2020, spanning a market of around 500 million people and representing nearly 30% of the global economy.
- In 2023, the 3 countries imported close to a total of $2 trillion in merchandise from each other—that’s nearly $5.3 billion in trade crossing their borders every day.
- The CUSMA SME Committee, chaired by Canada in 2024, organizes the dialogue every year to discuss issues that are important to SMEs.
- In Canada, Mexico and the United States, SMEs account for more than 99% of all companies, helping the 3 countries’ economies thrive.