Exclusive: Canadian firms warn over Mexico energy policy at dawn of trade deal



Dave Graham and David Ljunggren | Reuters

MEXICO CITY/OTTAWA (Reuters) – 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.

In a letter to Canada’s Deputy Prime Minister Chrystia Freeland, Finance Minister Bill Morneau, Foreign Minister Francois-Philippe Champagne and other officials, four companies voiced concern their Mexican investments were under threat and urged the government to press Mexico on the matter.

The letter, seen by Reuters, adds to evidence of frustration among investors over energy policy under the administration of President Andres Manuel Lopez Obrador just as Mexico is trying to revive its battered economy from the impact of coronavirus.

Canada, a longstanding ally of Mexico and one of the country’s main sources of foreign direct investment (FDI), has already raised concerns about Lopez Obrador’s energy policy.

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