Canada tells Mexico to be ‘serious’ if it wants to attract investment through the USMCA

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“It cannot discriminatE IN favor OF state companies such as Pemex and CFE over their competitors or private clients”

“Mexico undertook not to change agreed laws,” the Canadian Chamber of Commerce said in a statement.

The Chamber of Commerce of Canada said Thursday that although Mexico established in the USMCA their sovereign right to amend its Constitution and domestic legislation on energy, both the treaty and the TPP-11 undertook not to modify previously agreed in other agreements.

In a statement on Mexico’s energy commitments in the USMCA and other trade agreements, the Canadian Chamber assured that Mexico also signed its determination to “not discriminate against foreign investors over national ones.”

“It cannot take measures that result in a disguised expropriation of investors’ assets; it cannot discriminatorily favor state companies such as Pemex and CFE over its competitors or private clients,” the agency warned.

Other commitments that the country has in its international trade treaties is that “it cannot dictate capricious government resolutions or allow its autonomous bodies to be ignored in their public actions by not resolving any individual file,” he said.

Cámara de Comercio de Canadá pide a México ser un socio “serio y confiable”

After the federal government declared that the USMCA includes a section that allows the Mexican State to modify its constitution and its laws on hydrocarbons, including direct ownership and inalienable property, the Cancham warned that the 2014 energy reform was consolidated in the Treaty between Mexico, the United States, and Canada, as USMCA and in the Global and Progressive Agreement of Trans-Pacific Partnership (TPP-11).

Source: informador.mx

Mexico Daily Post

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