Last week, we were honored to host the Honorable Mary Ng, the Canadian Minister of Export Promotion, International Trade and Economic Development and Kirsten Hillman, Canada’s Ambassador to the United States, for a discussion with Texas Association of Business (TAB) leadership. This momentous meeting aimed to help fortify and deepen the relationship between Texas and Canada, our state's number two export market and one of our top sources for foreign direct investment (FDI).
The meeting brought together leaders from both Texas and Canada for a productive exchange of ideas and initiatives. The discussions spanned a wide range of topics, from practical matters, such as the new direct flight between ABIA and Montreal, Canada, to visionary initiatives like nearshoring our critical minerals. This robust discussion demonstrated a commitment to leveraging each other's strengths for a brighter future.
Minister Ng emphasized our important partnership: “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.”
Annually, Canada imports $37.0 billion in goods to our state, while Texas exports $35.9 billion in goods and $4.4 billion in services to our northern neighbor, highlighting the economic significance of the Texas-Canada relationship. This strong bond is further evidenced by the fact that trade with Canada supports over 640,000 jobs in Texas, and Canadian-owned businesses employ nearly 74,000 employees across the state. In Austin alone, 44 Canadian companies employ nearly 3,000 people. The potential for economic cooperation and mutual growth through collaboration and joint ventures is immense.
When you add up all goods and services, Canada is and will continue to be one of the largest trading partners for the US. Canada is also a critical trading partner for the largest export state in the US: Texas. Energy, aerospace and defense, technology (AI), rare earths and critical minerals, semiconductors and advanced manufacturing are just some of the key sectors in which Canada and Texas can and will do more together. We need to do everything possible to make North America — the world’s most prosperous trading bloc — even stronger.
Prime Minister Justin Trudeau's initiative earlier in the year, aimed at promoting and defending Canada's interests in and with the United States, underscores the importance of such bilateral initiatives. By bringing together experts and leaders from various sectors, including business, labor, and academia, Canada strives to deepen its relationship with its southern neighbor, recognizing Texas's pivotal role as the centerpiece of the North American economy.
As the discussion between TAB board members and Canadian officials unfolded, it became evident that a wealth of untapped opportunities for further collaboration exists. For example, Ambassador Hillman emphasized the space sector as an area ripe for growth opportunities between Canada and Texas.
It's important we continue expanding upon our current momentum to ensure Texas remains the economic powerhouse that it is today. By fostering an environment conducive to partnership and innovation, Texas, Canada, and all of North America are poised to benefit immensely and TAB looks forward to remaining engaged.
- Glenn Hamer, President & CEO, Texas Association of Business
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