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LatinNews Daily - 14 September 2020

López Obrador conditions US investment in Mexico’s energy sector

Mexico: On 4 September Mexico’s President Andrés Manuel López Obrador said that Mexico should permit and guarantee foreign investment in Mexico’s energy sector as long as it does not “affect the general interests of Mexico…harm public finances [or] destroy Mexican territory or cause pollution”. López Obrador’s remarks came the day after US Secretary of State Michael Pompeo said that the US government wants US companies “to have the opportunity to invest down in Mexico. It’s what the USMCA [US-Mexico-Canada Agreement on regional trade] was designed to achieve”. Pompeo added that “we think there’s been real progress there…But make no mistake: We’ve been clear this isn’t about – you talked about what we’d do to defend [US] interests down there – this is in Mexico’s best interest. It’s in Mexico’s best interest to have [US] investment, the technology that is brought to develop Mexican energy resources to benefit the people of Mexico”. He said that the US government is “in constant conversations with the Mexican government about this, certainly at every level of the US Government”. 

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