Canada raises concern over investment climate in Mexico

July 7 (Reuters) – Canada’s government on Thursday raised concern about the investment climate in Mexico’s energy and mining sectors, as well as the attitude in Latin America’s second biggest economy to biotechnology approvals.

At North American trade talks in Vancouver, Canada’s Trade Minister Mary Ng met Mexican Economy Minister Tatiana Clouthier, reaffirming their shared commitment to promote trade and the competitiveness of the region, the Canadian government said.

However, in a statement it said Ng reiterated Canada’s concern “with the investment climate in Mexico, especially in its mining and energy sectors,” as well as with “Mexico’s approach to biotechnology approvals.”

Mexican President Andres Manuel Lopez Obrador, a leftist resource nationalist, has tightened state control of energy and the mining industry, causing friction with some of the country’s main trade partners and business investors.

The ministers also discussed the creation of a “Canada-Mexico High Level Economic Dialogue” to set up a new forum to boost cooperation and competitiveness, Canada said.

Writing by Dave Graham
Editing by Chris Reese

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