Canada and Texas have long enjoyed a robust economic relationship, built on shared values and deeply integrated supply chains. This bond was further strengthened when the Honourable Mary Ng, Minister of Export Promotion, International Trade and Economic Development, visited Austin, Texas, on May 23, 2024.
This visit focused on promoting Canada-Texas economic ties and exploring new avenues for collaboration.
Promoting Strong Economic Relations
Minister Ng, accompanied by Kirsten Hillman, Ambassador of Canada to the United States, met with various government and industry representatives in Austin. These meetings were part of the Team Canada engagement strategy, designed to reinforce and promote Canadian interests in the United States, one of Canada’s closest allies.
During her visit, Minister Ng and Ambassador Hillman had a significant meeting with Greg Abbott, Governor of Texas. They emphasized Canada’s substantial business and investment presence in the state and discussed opportunities for increased collaboration. This meeting underscored the integral role Texas plays in Canada-US trade relations.
Key Meetings and Discussions
One of the visit’s highlights was a luncheon hosted by the Texas Association of Business, the largest state chamber of commerce in the United States. At this event, Minister Ng delivered remarks and led a discussion on Canada’s robust technology and manufacturing sectors. She emphasized their strong integration into U.S. and Mexican supply chains, crucial for North American economic growth.
Minister Ng also met with Canadian provincial representatives and executives from Canadian-owned companies operating in Texas.
This gathering provided valuable insights into the current state of Canada-US commercial relations, particularly between Canada and Texas. Discussions focused on how to further enhance these ties for mutual benefit.
Strengthening Supply Chain Resilience
Another critical aspect of Minister Ng’s visit was a roundtable on supply-chain resilience, hosted by the North American Strategy for Competitiveness Network. This discussion brought together representatives from the trucking and infrastructure industries, focusing on logistics within the Canada-United States-Mexico Agreement (CUSMA) trade corridor.
Minister Ng reiterated Canada’s commitment to CUSMA and North American economic growth. She listened to local perspectives on supply chain challenges and explored ways to improve resilience and efficiency. This roundtable highlighted the importance of maintaining strong, integrated supply chains for the region’s economic stability.
Economic Impact and Future Prospects
Canada and the United States share one of the largest trade relationships globally, with trade valued at $1.3 trillion in 2022. Texas is a significant part of this relationship, being Canada’s third-largest merchandise trade partner in the United States. Between 2012 and 2022, Canadian companies reported 137 investment projects in Texas, totaling $7.4 billion in capital investment and creating over 11,600 new jobs.
This visit by Minister Ng highlighted the ongoing and future potential for economic collaboration between Canada and Texas. It emphasized the need for continued engagement and partnership to support economic resilience, competitiveness, and prosperity for both regions.
Quotes from Key Figures
Minister Ng encapsulated the visit’s significance, stating,
“Canada and the United States are key allies in the economic security and prosperity of North America. Canada and Texas have deep economic ties, particularly through our integrated supply chains.”
“Our Team Canada engagement strategy with the United States is all about strengthening and promoting these bonds to support economic resilience, competitiveness, and prosperity in Canada and Texas.”
To Sum Up
Minister Ng’s visit to Austin has reinforced the strong economic ties between Canada and Texas. By promoting collaboration and addressing supply chain challenges, Canada aims to further strengthen its trade relationship with Texas.
The ongoing engagement and investment highlight the vital role these economic ties play in the broader North American context.
Canada’s proactive approach in fostering these relationships showcases a commitment to mutual growth and prosperity. As these efforts continue, both Canada and Texas stand to benefit from increased economic integration and cooperation, ensuring a robust and resilient economic future for both regions.
Sources: THX News & Global Affairs Canada.
