US, Canada express concerns over Mexico's energy policies

The United States and Canada have jointly expressed concerns about the Mexican government's attempts to increase state representation in energy projects involving international investors, US Trade Representative Katherine Tai said.

Speaking at a live-streamed news conference in Mexico City where she was joined by Canadian Trade Minister Mary Ng and her Mexican counterpart Tatiana Clouthier, Tai said the two countries were closely watching the energy policies of the Mexican government and raising concerns.

"Of course, we are both concerned and that's what we have expressed at this meeting," Tai said during the first anniversary of the US-Mexico-Canada Agreement on Wednesday.

In April, the Office of the US Trade Representative voiced concerns about the worsening climate for US energy investors in Mexico. The statement came after Mexican President Andres Manuel Lopez Obrador attempted to reverse previous reforms that enticed foreign investors and sought to strengthen the state's role in the energy sector, including bolstering the state oil company Petroleos Mexicanos.

Obrador's interventions upset some of Mexico's main allies, including the United States, Canada and major European countries, and angered investors who believe the government is violating their rights under trade agreements Mexico signed.

US energy companies have also expressed concerns about extended delays on permit approvals for retail fuel stations, as well as efforts by Petroleos Mexicanos to wrest away operational control of a big shared crude deposit discovered by a US-led consortium three years ago.

(ANI)

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