Canada raises concern over investment climate in Mexico

Canada’s authorities on Thursday raised concern concerning the funding local weather in Mexico’s power and mining sectors, in addition to the angle in Latin America’s second greatest financial system to biotechnology approvals.

At North American commerce talks in Vancouver, Canada’s Commerce Minister Mary Ng met Mexican Financial system Minister Tatiana Clouthier, reaffirming their shared dedication to advertise commerce and the competitiveness of the area, the Canadian authorities said.

Nonetheless, in an announcement it said Ng reiterated Canada’s concern “with the funding local weather in Mexico, particularly in its mining and power sectors,” in addition to with “Mexico’s method to biotechnology approvals.”

Mexican President Andres Manuel Lopez Obrador, a leftist useful resource nationalist, has tightened state management of power and the mining trade, inflicting friction with a few of the nation’s essential commerce companions and enterprise buyers.

The ministers additionally mentioned the creation of a “Canada-Mexico Excessive Degree Financial Dialogue” to arrange a brand new discussion board to spice up cooperation and competitiveness, Canada said.

(Writing by Dave Graham; Modifying by Chris Reese)