As Mexico celebrated a new trade deal with the United States and Canada on July 1, a group of Canadian energy investors warned their government that Mexico could already be violating the agreement for failing to respect contracts.
FILE PHOTO: Trucks wait in a long queue for border customs control to cross into the U.S., at the World Trade Bridge in Nuevo Laredo, Mexico June 30, 2020. REUTERS/Daniel Becerril
Arguing that Mexico must carve out a bigger role for the state on energy policy and become more self-sufficient, Lopez Obrador says previous Mexican governments skewed the market in favor of private investors, pushing up prices for the public. Mexican tribunals have temporarily suspended some of the measures, pending a Supreme Court decision. However, disputes over a range of policy decisions on energy extend back well into last year and have fanned uncertainty among investors.
Ng raised this issue on May 29 with Mexican Economy Minister Graciela Marquez and two agreed to keep up dialogue on it, Nearing added. Canada’s embassy in Mexico has also been actively engaged with Mexico’s government on the matter, he said.
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