Canada has recently hosted the third annual Small and Medium-Sized Enterprises (SMEs) Dialogue under the Canada-United States-Mexico Agreement (CUSMA) in Montréal.
The event brought together over 175 representatives from SMEs, industry leaders, and government officials from across North America to discuss trade opportunities and the vital role of SMEs in the region's economy.
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 advance trade priorities and opportunities for SMEs. They underscored the importance of CUSMA in fostering economic growth, prosperity, and competitiveness for Canada, the United States, and Mexico. The dialogue also focused on increasing the participation of SMEs led by traditionally underrepresented groups in international trade.
During the event, Sidhu highlighted the shared goals of the three countries. "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 three countries are working together to help our SMEs thrive and succeed in exporting," Sidhu said.
In addition to the dialogue, Sidhu visited the Canadian Pavilion at the Salon International de l’Alimentation au Canada (SIAL), an international food show featuring over 100 Canadian companies. He interacted with international buyers interested in Canadian SME products, promoting trade and export opportunities. Sidhu also met with representatives of AluQuébec, a non-profit industry group, to discuss the priorities of the Canadian aluminum industry. The industry’s exports are essential to North American supply chains and the transition to a green economy.
CUSMA, which took effect in 2020, covers a market of approximately 500 million people and represents nearly 30 percent of the global economy. In 2023, Canada, the United States, and Mexico collectively imported close to $2 trillion in merchandise from each other, amounting to nearly $5.3 billion in daily trade across their borders. SMEs account for over 99 percent of all companies in these three countries, playing a crucial role in their economic vitality.