Back

LatinNews Daily - 23 September 2020

In brief: Coca-Cola CEO meets with Mexico’s López Obrador

* Mexico’s President Andrés Manuel López Obrador has confirmed that he recently held a meeting with James Quincey, global CEO of US multinational beverage corporation The Coca-Cola Company, during which they had a “frank” and “open” discussion on taxes, Mexico’s new labelling rules, investments, and support for small businesses. Speaking during his daily press conference, López Obrador said that Coca-Cola has committed to offering interest-free credit to 1.2m small shopkeepers in Mexico who sell Coca-Cola products. López Obrador also said that Coca-Cola is diversifying its production in Mexico, “for example they have acquired plants for milk production”, with the commitment of procuring raw materials from Mexican suppliers. “We need to stimulate private investment”, López Obrador said, adding that Coca-Cola will be making new investments in the country, although he avoided responding to a question over the exact level of investment. Finally, López Obrador said that Coca-Cola had “accepted the definition of the new rules” on the labelling of soft drinks and pre-packaged foods, as per the NOM-051 norm due to come into effect on 1 October, which requires such products to include clear information on nutritional value and warnings on detriments to health. In late August, Coca-Cola's largest bottling company, Mexico's Coca-Cola FEMSA, filed an injunction against the new rules.

End of preview - This article contains approximately 215 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

LatinNews
Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
Contact
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.