Four Canadian companies renewed their concern about the threat to their investments in Mexico and urged Ottawa to pressure the government of President Andrés López Obrador.
Canadian Solar Inc, Atco Ltd, Northland Power Inc and JCM Power cited decisions to suspend testing of new renewable power plants and to limit the development and operation of power plants as steps that could jeopardize their solar energy projects. and hydroelectric in the Latin American country.
Brenda Romo, the specialist in North American Affairs, explained that the same day that Mexico celebrated the entry into force of a new trade agreement with the United States and Canada on July 1 of last year, and a group of Canadian energy investors He warned his government that the Latin American nation could already be violating the pact by not respecting contracts.
Romo said that Canada’s Deputy Prime Minister Chrystia Freeland received a letter from those four companies expressing concern about the threat to their investments in Mexico and urged her government to put pressure on the country on this issue.
The letter added to the frustration of several investors over the energy policy of the López Obrador administration, just as Mexico was trying to revive its economy, hit by the coronavirus epidemic.
Trilateral meeting
This week, at the first meeting of the T-MEC / CUSMA / USMCA Free Trade Commission with its counterparts in the United States and Canada, the Mexican Secretary of Economy, Tatiana Clouthier, said that “Mexico is open to a dialogue constructive with Canada and the United States on financial services ”, and it is that there have not only been complaints from the Canadian side.
Katherine Tai, United States Trade Representative, affirmed that there are several companies in her country that have expressed among their concerns the energy issue, the problems for the importation of biogenetic products and the working conditions in Mexico.
Mary Ng, Minister of Small Business, Export Promotion and International Trade of Canada, indicated at the meeting that Mexico has violated the treaty and directly requested “an energy policy that respects investment and is consistent with efforts to resolve climate change.” .
According to Tai, there are seven issues that Mexico has failed to comply with: environmental obligations, trade in goods made with forced labor, regulatory approaches based on science and risk in agriculture, access of fresh US potatoes to all of Mexico, immediate resumption of authorizations. of agricultural biotechnology products in Mexico and an energy policy that respects investment.
By Silvia Méndez
