Today, the Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade, spoke with Rocío Nahle García, Mexico’s Secretary of Energy, while in Mexico City.
The virtual discussion was part of a series of productive meetings Minister Ng has had in Mexico City with counterparts and key stakeholders during her visit to mark the first year of the entering into force of the Canada-United States-Mexico Agreement (CUSMA). Minister Ng thanked Secretary Nahle for the opportunity to discuss how Canadian investments in Mexico’s energy sector support the countries’ strong bilateral relations while also creating good jobs in both countries.
Minister Ng emphasized Canada’s concerns regarding changes to Mexico’s energy sector regulations and the potential they have to significantly impact workers, people, and businesses. Minister Ng also highlighted that Canadian investments in Mexico’s energy industry, which total nearly $13 billion, bring affordable energy to Mexican consumers. She also highlighted the benefits that the transition to sustainable energy in North America are bringing to people in both countries and the stability and predictability it is bringing to consumers, investors, and businesses alike.
Minister Ng recommended they work together in moving forward to address industry concerns and stressed the importance of maintaining an open dialogue and continued collaboration to keep bilateral relations between Canada and Mexico strong and ensure that CUSMA is respected. Minister Ng and Secretary Nahle agreed to continue their dialogue on enhancing cooperation to support energy sector investors, workers, and consumers in both countries and continue to foster a fair playing field within North America.
- Canada currently has $12.9 billion in investments in Mexico’s energy industry.
- Canada’s investments in Mexico’s energy industry include more than $5 billion in innovative and cost-effective renewable energy projects that support affordable energy for Mexican consumers.